Downtown investor JWB Real Estate Capital bought the Federal Reserve Bank Building at 424 N Hogan St.
Through 218 W. Church LLC, JWB paid $1.75 million for the historic Federal Reserve Bank structure Aug. 3, according to WJCT News partner the Jacksonville Daily Record.
It was built in 1922. The building is next to the historic Seminole Building, anchored by Sweet Pete’s candy shop, that JWB bought in January.
JWB Real Estate President Alex Sifakis said the Federal Reserve Bank Building property was not on the market.
“We reached out to the seller directly,” Sifakis said in an email interview Aug. 6.
JWB bought the vacant three-story, roughly 18,000-square-foot building from Tbsop LLC, led by Jim Wiss. Tbsop holds a mortgage and security agreement of $800,000.
An expanded version of this story is at JaxDailyRecord.com. It includes an interview with Sifakis about his plans for the building.