A 73,000 square-foot building with a bleeding rainbow mural on the side at 2937 E. Grand Blvd. in Detroit is going up for auction this month, Crain's Detroit Business reports.
The auction begins June 23.
Kirk Pinho of Crain's reports that the the auction for the building at the southwest corner of Beaubien and East Grand Boulevard is being coordinated by Farmington Hills-based Friedman Integrated Real Estate Solutions LLC, which describes the property as being “ideal for a variety of uses, including loft or apartment conversions.”
But the prospect of the property being sold could change, Crain's notes.
Pinho reports that Princeton Enterprises LLC bought the property in January and is still considering redeveloping the building into multifamily space, and could pull the building off of auction. One key thing: The company is looking for secure parking for the potential development, something that comes with many of the modern apartments, condos and lofts in downtown and Midtown these days.
Car theft and car breakins remain an issue in the city.
