TOLEDO, Ohio — The nearly century-old Hotel Lorraine in downtown Toledo is under new ownership.
According to Lucas County records, real estate investment firm Zoeva Properties purchased the building for $1,140,000. The deal was closed on July 28 and the property was transferred on Aug. 10.
"Sold" signs were seen outside the building, on Jefferson Avenue at 12th Street, Monday afternoon. It sits on a .79-acre lot with a building size of 59,060 square feet.
According to Zoeva Properties' website, the hotel will be renamed to Zoeva Tower and have 150 units. The company also owns properties in Cleveland, Ohio, and Elizabeth, New Jersey.
The hotel was up for auction in May.
It fell into disrepair over the years despite attempts at renovations in the early 2000s.
It was shuttered under a court order in October 2019. At the time of its closure, the hotel was known for cheap housing in a walkable area of town. Around 40 permanent and transient residents were abruptly forced to find new lodging.
The then-owners of the Hotel Lorraine were sentenced for fraud and crimes they openly admitted to WTOL 11 that they had committed.
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