Photo: The image of the David Stott Building comes from a video of downtown's Capitol Park by Logan Siegel, a Detroit videographer whose company, Reel Vision Media, is located in the Stott Buidling and specializes in documentary films. The video ran on Deadline Detroit May 28.
Dan Duggan reports in Crain's Detroit Business that one buyer, not based in the United States, cast the winning bid in auctions for two Detroit buildings last week: the David Stott Building on Thursday and the former Detroit Free Press headquarters building on Wednesday at prices of $8.95 million and $4.025 million, respectively.
Emre Uralli, the buildings' owners, largely declined to comment on the deals, or the buyer. He noted that the deals are not closed.
Duggan reports Uralli sold his Florida real estate at the peak of the market in 2007, and he wound up in Detroit, looking for bargains.
If the pending sales of his two major downtown investments close, Uralli stands to leave Detroit with $6 million in profit.
