L. Mason Capitani CORFAC International Brokers Sale of Historic Hotel Property in Detroit
DETROIT — L. Mason Capitani CORFAC International has brokered the sale of The Royal Palm/Park Avenue Hotel located at 2305 Park Ave. in Detroit. The sales price was not disclosed, but the asking price was $15 million. The 13-story, 180-room hotel was designed by Detroit architect Louis Kamper in 1925 and has been operational ever since. Downtown Hospitality Detroit LLC, which is owned by Mario Kiezi and Mike Abdulnoor, purchased the property. The buyers plan to fully restore the hotel and add two restaurants on the first floor as well as a rooftop bar. Completion of the project is slated for late 2020. Al Lafrate of L. Mason Capitani represented the buyer and the seller, Catharina Harrington, who had operated the hotel with her late husband Wilbur Harrington since 1967.