Iconic Fisher, Kahn Buildings Auctioned for $12.2 Million

Bidding was fast and furious in the final moments of the auction of the Fisher Building, which started on Monday with an opening bid of $3.5 million. The 1928 art deco palace sold for $12.2 million shortly after 1 pm today. While the buyer's identity remains a mystery, the auction for New Center's most famous property has Detroiters wondering what will become of the iconic structure. The building last sold for $31 million in 2001 and went up for auction after its most recent owner, FK Acquisition LLC, defaulted on a $27 million mortgage. While everyone wants to know who bought the Fisher, the website that facilitated the sale, auction.com, says that the winning bidder won't be announced until escrow closes on the property. - Rebecca Golden

· Iconic Fisher Building Hits the Auction Block Today [Curbed Detroit]
· Fisher & Kahn Buildings [auction.com]
· Fisher and Kahn buildings sell at auction for $12.2M [Freep]