Downtown Asheville building sells for nearly $5M
A downtown Asheville building at 52 Broadway has sold to a Raleigh-based company, 52 for Good, LLC, for $4.75 million dollars.
The sellers were Otto Hauser and Craig Culbertson, owners of the former Stuf Antiques at the same address.
The building is next to Mellow Mushroom and currently houses another antique shop. It's now the future home of a second location of Jordan Ahlers' Momentum Gallery, currently located on 24 North Lexington Avenue.
According to a press release, the building was constructed in 1923 and was home to several of Asheville's first car dealerships in the early 1940's. Businesses that occupied it included the Arbogast Motor Co., Thomas Cadillac Co., Mills Cadillac Co., and Asheville Motor Co.
In 1943, the property was purchased by the Farmer's Federation to become a "frozen-food locker plant." When the Federation closed in 1963, the building eventually fell into disrepair and abandonment until downtown Asheville's revitalization.
Hauser and Culbertson renovated it in 1996, converting it to an antiques business with top-floor loft apartments.