The purchase was financed with a $3.36 million advance by Mellon United National Bank, in addition to an existing loan of $7.5 million, bringing the current amount due to $10.75 million.
The 15-story office project, with a total of 385,038 sf gross, was completed in 1974. The property has 90,800 sf of offices, plus 46,370 sf of stores and a parking garage.
The original developer had financing on the property for $10 million. In a 1997 foreclosure action, WRH Royal Ltd. took title with a bid of $3 million.
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