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Symes Buildings in downtown Denver listed for sale after foreclosure
The nearly 100,000 square foot property at 820 16th St was advertised as a redevelopment opportunity after Harbor Associates defaulted on an $18.66 million loan.
A nearly 100,000 square foot downtown Denver building known for more than a century as The George is back on the market, now under the name The Symes Buildings. ConnectCRE said the vacant property at 820 16th St has been listed for sale as a bank-owned foreclosure and redevelopment opportunity.
The building, which is about 120 years old, is being marketed as a traditional investment sale rather than an auction, according to ConnectCRE. The outlet said the asking price was not publicly available.
ConnectCRE reported that Harbor Associates bought the property for $17.2 million in 2022 but later defaulted on an $18.66 million loan from Thorofare Capital. Thorofare acquired the building for $6 million at a foreclosure auction in February.
The property is being advertised as including an approved site plan valid until 2030, with future developers able to convert it to residential use, ConnectCRE said. The outlet added that other uses that reactivate the building could also be pursued by a buyer.