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Gilbert Pays $500K for a Historic Trio on Broadway Street

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It's buying season for downtown Detroit real estate, and Dan Gilbert is on a shopping spree. After locking down more real estate in Capitol Park last week, the downtown kingpin made an another deal—this time with the Downtown Development Authority (DDA). According to Crain's, he nabbed a row of three historic buildings on Broadway Street—right across from the Z Lot—for just $500K.


1332 Broadway
With three large rows of windows, this building might end up being the most exciting renovation of all three. An old listing describes the upper stories as having wood floors, plaster/brick walls, floor-to-ceiling windows, and skylights on the fourth floor. It also mentions a basement. Records indicate a square footage around 12,600 square feet.


1326 Broadway
At 5,200 square feet, the smallest of the trio is also the oldest. Built in 1900, it has apparently been vacant for a while. An old listing mentions a "partial third floor," though it's unclear what exactly that means.


1322 Broadway
Very nice terra cotta facade on this one, but not a lot of information. We know the square footage is around 8,900, and a building survey from 2002 claimed it had just gotten new windows. The same survey also mentions the building was constructed "About 1910-1920."
· Gilbert to buy 4 more downtown Detroit properties [Crain's]