David Stott Sold: Skyscraper Auctioned off for $8.95M

The battle for the David Stott Building is over. When the dust settled, an $8.95M bid won the day after yet another frenzy of last-minute bidding. That's on the pricier end of downtown real estate, but it's not surprising the Stott fetched a premium. A skyscraper sandwiched between Campus Martius and Capitol Park is the Monopoly equivalent of The Boardwalk in Downtown Detroit. Now we must ask: is Dan Gilbert, Detroit's Monopoly master, the big winner? We've heard that his people made an offer on the building when it was asking over $10M. The bigger question, however, is this: Will the new buyer do downtown the huge favor of a residential conversion? Stay tuned.
· Downtown's Most Promising Skyscraper Asking $10.4M [Curbed Detroit]