Historic Downtown Building Changes Hands in $5.9 Million Deal

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The historic Merchants Building in downtown Detroit has sold in an off-market deal for $5.9 million.  A party linked to Detroit-based Method Development LLC bought the building last month. Method will share full development plans for the project in the near future. Broadway Merchants LLC bought the building in 1996. The building was listed in 2014 for $4 million, but never traded hands.  Method has been active in other parts of the city, as well.