Published by admin on 14 Dec 2007
Liberty Building finds a buyer
A Depression-era building in downtown Yakima will soon have new owners.
A group of local and Seattle investors will finalize their purchase of the Liberty Building at 32 N. Third St. for $1 million.
The investors, including a real estate developer, a real estate attorney and a commercial banker, did not want to be identified yet, said Bill Almon Jr. of Almon Commercial Real Estate, who represents the buyers.
“They saw an underperforming asset they could add some value (to) and turn around,” Almon said. “With their backgrounds, it’s a pretty natural fit.”
Toth Investments purchased the building in May 2006 from the Yakima Valley Memorial Hospital Association for $625,000, after the YWCA dropped its bid for the four-story, 40,000-square-foot structure.
Owner Terry Toth had grandiose plans for the building that included upgrades to the heating and air conditioning system, placing a new restaurant on the ground floor and even securing Lady Liberty, a terra-cotta replica of the Statue of Liberty that once was at the corner of the building.
