2 St. Louis Place – the six unit dormitory that has been the subject of much public scrutiny in recent months – is now officially on the market. I spoke to listing agent Gary DeCarlo, who told me that the asking price is $949,000.
From the listing:
The property features a 3,888 square foot, three-story building with an additional 1,584 square foot basement. This property is a development project. It is situated on a 53 x 138 lot, offering the potential for additional square footage. There is a possibility for off-street parking, subject to approval. The building is currently zoned 411 Apartments and is located in the highly desirable Allentown section of the city. Its location offers walkability to various amenities, including banks, restaurants, shops, and activities. For those working downtown, public transportation is readily accessible. The property is located at the end of St Louis Place, off Virginia Street.
If restored properly, into desirable apartments, 2 St Louis Place could become a beautiful, productive, residential asset in the neighborhood, instead of the nuisance that it has become in its current state and condition.
Of course $949,000 is only the asking price… I’m sure that a more reasonable price might be (or should be) accepted, especially depending on the state of the interior, which could be a gut job considering that its recent history has not been exactly been a shining example of respectable city living. I also understand that there are two legal battles happening at the moment, involving abandonment and housing court. Seeing that the current owner – Charles J. Dobucki – is in a bit of a pickle, one would think that the asking price might be more in line with the state of the structure. Obviously Dobucki is aiming high, but he’s also under mounting pressure to get this structure sold and out of his hair.