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The Ford Building at 615 Griswold St., one of the oldest office buildings in downtown Detroit, has been sold to the Sterling Group of Detroit. It opened in 1909.
The 18-story landmark, long the home for some of the biggest names in the Detroit legal profession, was officially sold Monday after many delays resulting from legal disputes. The Sterling Group is a real estate, investment and management company owned by Gary Torgow, a well-known Democratic Party donor.
The building was owned and operated by a father-son team of attorneys, Thomas Paglia Sr. and Thomas Paglia Jr. They had seventh-floor offices and were directly involved in managing the property, which the family bought in 1991.
Both declined to disclose the sales price, which Crain's Detroit Business pegs at around $12 million.
Thomas Paglia Sr. says it was a good time to sell. "The market was strong and still is," he said. "We're excited about Detroit and committed to its revitalization."
Deadline Detroit is a tenant in the building, which is next to the Penobscot Building, a 1928 tower.
