CASTLES IN THE SKY(LINE)
|Looks like the famous Midtown landmark "The Castle" has a new owner.|
The 11K SF property at 87 15th Street next to The Promenade office tower was auctioned on Aug. 17 for $951k to New York private investor Bryan Latham, according to Bull Realty partner Daniel Latshaw, who sold the building for BB&T. In July, the bank foreclosed on the Castle after Inman Park Properties failed to pay its $2M loan, according to Databank. Daniel says a handful of parties came out to bid on the property, including Norfolk Southern. The Castle was built in 1902 as the retirement home of local entrepreneur Ferdinand McMillan and named Fort Peace. Throughout the '50's and '60's, it was used as an artist commune but little else in the ensuing years. Most recently Inman Park Properties marketed the property for restaurant uses, according to its website.