David Stott Building Discussion

Every once in awhile there is a thread on this building, but of all of downtown's major skyscrapers, this one gets the least attention and the least seems to be known about its recent history. I've tried to do a little research to little avail.

Does anyone know the name of the company that currently owns the building? Is it actively being leased? The only thing I've been able to find on it is that a Marusich Architecture has a renovation plan for it listed under their "Current Projects" on their website:

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David Stott Building
1150 Griswold Street
Detroit, Michigan

Adaptive reuse development of a 35 story historic Art Deco office building [[circa 1928) into 128 luxury condominium lofts and ground floor retail.

Construction cost: $18,750,000

Status: The current Owner/Developers are in process sercuring funding committment with TCF bank.

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God knows how "current" this is. So, anyone knows who owns the tower?

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Originally Posted by MichMatters

Every once in awhile there is a thread on this building, but of all of downtown's major skyscrapers, this one gets the least attention and the least seems to be known about its recent history. I've tried to do a little research to little avail.

Does anyone know the name of the company that currently owns the building? Is it actively being leased? The only thing I've been able to find on it is that a Marusich Architecture has a renovation plan for it listed under their "Current Projects" on their website:

God knows how "current" this is. So, anyone knows who owns the tower?

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Not sure I would call it deco_ the lobby certainly is not deco. Years ago I would go to the upper floors where the 'ABX studios were.One summer night we went to the roof quite a spectacle as Detroit was still thriving then......lots of lights.

When they usually talk about the style of a building, they are usually talking about the exterior stylings and proportions, and this is most definitely art deco.

I had an office in the David Stott Building back in 1999 but we had to move because there were just too many problems..no janitorial services, no heat, plumbing issues, and just overall up keep. I don't know if it is still being used.

Oh, it's still in use. But, I do wonder how much of it? It has to be extremely low occupancy. It's definitely not a tower commercially marketed on anythign beyond a word-of-mouth scale.

the Stott is my favorite skyscraper down there. I love the lines. it's nice that it never ended up like the Broderick. Ownership must somewhat care about it.

That Marusich company claims to have an office there, but the number no longer works. I only see the same lights up around floors 25-35 on every night. It appears that most if not all of the building above floor 3 is dead. Much like the Broderick Tower, if that building was ever thriving it would really stand out being lit up at night.

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Originally Posted by bartock

That Marusich company claims to have an office there, but the number no longer works. I only see the same lights up around floors 25-35 on every night. It appears that most if not all of the building above floor 3 is dead. Much like the Broderick Tower, if that building was ever thriving it would really stand out being lit up at night.

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It definitely has an office there: I was just in it about a month or so ago. They're on the 34th floor - and take up more than half that floor. When I was in the Stott, only ONE elevator worked. You can imagine how long it takes to catch a ride when it's going all the way to the top and back. That's the sorta thing that drives tenants away.

Back in the 70's and early 80s my father had a law firm on the 30th and 31st floors. Because of my parents deteriorating marriage I some times would spend days with him at the building. I remember rooming the stairs for hours, sometimes going up to the ABX station office just above. Other times he would safety pin some money and a note to me saying 'give this boy a 6 pack of Strohs beer and a carton of Kool cigarettes" and send me across the street to the store across from Lafeyette Coney Island. I also got busted another time for throwing out my weebles to see them plummel to the streets. Not the best parenting to be sure but it did leave quite a few strong impression, many of which still commonly come back to me in my dreams.

My last time back there, about seven years ago, I dropped in at the building and after talking to the guard about my memories he gave me the keys to both floors, which were both empty at the time. The 2 things that struck me were how small it really is [[much smaller than my childhood memories lead me to believe) and what a great view it now has on Comerica Park. From where my fathers old desk once sat you can see directly across to home plate.

I hope who ever owns it now treasures and rpeserves it for what it is.

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Originally Posted by buildingsofdetroit

It definitely has an office there: I was just in it about a month or so ago. They're on the 34th floor - and take up more than half that floor. When I was in the Stott, only ONE elevator worked. You can imagine how long it takes to catch a ride when it's going all the way to the top and back. That's the sorta thing that drives tenants away.

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If I'm not being too bold, for what were you visiting Marusich?

Yes, this has always been one of my favorite skyscrapers in all of downtown. Excellent proportions. In fact, the proportions [[and lack of towers immediately around it) make the tower look much taller than it actually is.

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Originally Posted by MichMatters

If I'm not being too bold, for what were you visiting Marusich?

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He offered to get us on the roof. I took him up on the offer. :)
I wish I had the money to invest in architectural business, but alas, BuildingsofDetroit.com is a nonprofit, ad-free Web site. :)

Very nice first post, Detroitus. Welcome.

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Originally Posted by buildingsofdetroit

He offered to get us on the roof. I took him up on the offer. :)

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Well, when you next visit, be sure to ask their office about the plans discovered on their website. :)

I'm still interested in knowing who owns this property, and if its locally [[in)famous name or just an individual eking by.

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Originally Posted by MichMatters

If I'm not being too bold, for what were you visiting Marusich?

Yes, this has always been one of my favorite skyscrapers in all of downtown. Excellent proportions. In fact, the proportions [[and lack of towers immediately around it) make the tower look much taller than it actually is.

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Yes, it is a beautiful building. And the scale is somewhat askew because of it's location. It was owned at one time in recent years by an individual - an attorney who had his offices in the building. I tried to interest some prospective tenants in leasing space but it didn't suit their needs. I haven't spoken to the attorney in quite a while. I just assumed, until recently, that he still owned it. Talk here at DY has led me to believe he may not. Did an out of town company buy it in the past year or two, with plans to renovate?

i to was invited by John Marusich to visit the top floor of the Stott. Met him one night at the motor bar in the Book Cady. John has a great vision for this city and the buildngs. I was also invited by him to tour the old free press building with and a film crew about possible renovations to it. Great guy with a wealth on knowledge about the history of these abandon landmarks.

Another great thread on DetroitYES. Thanks for sharing everybody, especially Detroitus. I'm learning!

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Originally Posted by MichMatters

Every once in awhile there is a thread on this building, but of all of downtown's major skyscrapers, this one gets the least attention and the least seems to be known about its recent history. I've tried to do a little research to little avail.

Does anyone know the name of the company that currently owns the building? Is it actively being leased? The only thing I've been able to find on it is that a Marusich Architecture has a renovation plan for it listed under their "Current Projects" on their website:

God knows how "current" this is. So, anyone knows who owns the tower?

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The owner is Nick Tsalis, an attorney. I met with him today because I am looking for places for my company to move to downtown. Just some information I learned from meeting with him that you people might be interested to know...the building is about 30% used and there is less then a dozen tenants.

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Originally Posted by DetroitZack

The owner is Nick Tsalis, an attorney. I met with him today because I am looking for places for my company to move to downtown. Just some information I learned from meeting with him that you people might be interested to know...the building is about 30% used and there is less then a dozen tenants.

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Thanks for that, Zack.

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Originally Posted by DetroitZack

The owner is Nick Tsalis, an attorney. I met with him today because I am looking for places for my company to move to downtown. Just some information I learned from meeting with him that you people might be interested to know...the building is about 30% used and there is less then a dozen tenants.

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Thanks Zack. I've known him for years but haven't spoken to him in a couple. I'm glad Nick's still hanging on. The building makes a nice law office. I tried to get the Detroit Filmmakers CoOp a/k/a the Detroit Film Center to move there prior to the Book Building. They had so many problems with the Book, I bet [[I know) they wished they'd moved to Nick's building instead. Anyway, Nick and the Stott are still there - that's good news.

The Stott is my favorite skyscraper in the city. Just like the building's quiet image, the architects Donaldson and Meier are also not as well known as they should be. Their contribution to the city's architectual history especially all of their commissions for the Archdiocese of Detroit are quite extensive!

Welcome to the Forum, Detroitus. Your first post was a good one.
My law firm was on the 32nd floor of the Guardian Building in the 70's/80's. What was the name of your Dad's firm in the David Stott Building? I bet I knew some of his members.

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Originally Posted by the rock

Welcome to the Forum, Detroitus. Your first post was a good one.
My law firm was on the 32nd floor of the Guardian Building in the 70's/80's. What was the name of your Dad's firm in the David Stott Building? I bet I knew some of his members.

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My father was Robert Corace. His law partner was Kenneth Webb. I think they had there offices there from the early 70s to early 80s. Before then he worked at the Penobscot

A couple other things i remember about the buildings is how great the 4th of July Fireworks show was at that level. Basically at the 30th floor you were eye level with the exploding fireworks over the river.

Also they still had elevator operators but they only worked during the day. After hours you had to operate the elevators yourself with a wheel like device to direct the elevator up or down. Some times I would be allowed to man the wheel which was a complete thrill. I thought this definitely what I wanted to do when I grew up. I don't think I have seen another elevator operator any where since except for old movies.

What was the old, black guy's name who was the door man for years?

I always wondered about the David Scott Building, it never looked very occupied or full to me but I knew that it wasn't completely vacant because it was still in pretty good shape. It doesn't look at all as bad as the Book Building.

It's also one of my favorite skyscrapers downtown, I hope that it can be occupied with more companies eventually.

the Stott is showing up in a lot of the Lafayette building demolition photos. looks like it will be a lot more visible in a bit, hopefully those DEDG guys ain't getting any silly ideas.

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Originally Posted by 1KielsonDrive

What was the old, black guy's name who was the door man for years?

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When I worked there in '94 and '95 the man who covered the door and the elevator was named Don and the maintenance guy was Herb.

The agency I worked for occupied the 14th floor and later moved the admin offices to 28. The building was empty from the 2nd-13th floor and then from 15-26. And really creepy on the weekends.

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Originally Posted by ellsa

When I worked there in '94 and '95 the man who covered the door and the elevator was named Don and the maintenance guy was Herb.

The agency I worked for occupied the 14th floor and later moved the admin offices to 28. The building was empty from the 2nd-13th floor and then from 15-26. And really creepy on the weekends.

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Thanks Ellsa. Don sounds like it might be him. I'll have to speak to friends to collaborate my memory is correct. 1994 - 95 sounds like the tail end of his employment at the building. I used to talk to him occasionally when in the building or frequenting businesses in that area. I seem to remember him around from the 70's to the 90's. Another downtown Detroit character.

[. Another downtown Detroit character.[/quote]


He liked to tipple a little...used to scare the hell out of me in that elevator.

Back around 1990 a friend showed me where he worked in one of the upper floors of the Stott Bldg. It was great to see the interior of such a great looking building. I don't remember a lot of elaborate details. It seems to me that maybe the exterior was always the primary appeal of the building?

Still, it's a gorgeous old structure and if someone cares to rehab it then God bless them and hopefully they will have success.

I recently had the opportunity to review the redevelopment proposals for the David Stott. They look great. Pretty straightforward. The building would be converted to mixed-use with a majority of the floors being dedicated to lofts & condos. Three of the six elevators would be removed to accommodate more floorspace. The developers are looking at the possibility of converting the buildings next door [[to the south on Griswold) into parking decks with ground-floor retail. Astonishingly, historic & brownfield tax credits would cover 80%-90% of the costs, bringing the initial investment costs down to below $5 million.

The plans are just that -- plans -- but if the improvements at Capitol Park move forward & the city & state gets on board with redeveloping this building and the other properties surrounding the park, it could be a 'go' for work to start early 2011.

Looking forward to the future of this downtown gem.

Do you happen to know the name of the developer who is proposing the plan? Is it Jim or someone else?

My shop is in there now!

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Originally Posted by carlscomputers

My shop is in there now!

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What shop?

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Originally Posted by p1acebo

What shop?

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I deduce it is "Carl's Computers & Security Concepts".

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Originally Posted by ljbad89

I deduce it is "Carl's Computers & Security Concepts".

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That's Right!

My attorney is [[and has been since the 70's) based out of the Stott building. Apparently a few weeks ago, he and all residents were given the boot by a Miami based developer or so he says. Does this ring a bell at all?

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Originally Posted by brightpavilions

My attorney is [[and has been since the 70's) based out of the Stott building. Apparently a few weeks ago, he and all residents were given the boot by a Miami based developer or so he says. Does this ring a bell at all?

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It's true. The Stott is closing. I was told this last night by an architect who has offices in it. This means the Stott will now be the tallest empty building in the city - and second tallest in the country.

That's rubbish. Any idea on this mystery "developer" and what they plan on doing?

Miami, eh? If their city is any indication, Detroit might be on the cusp of a skyscraper boom.... ;-)

Have to correct myself: I forgot about the Book Tower. So the Stott will be number two in the city and third nationally.

Which will be torn down first, Book tower or the David Stott?

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Originally Posted by Supersport

Which will be torn down first, Book tower or the David Stott?

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I can't even imagine how much $$ it would take to take down either of those buildings. It's Detroit though so anything can happen.

I don't understand why the investment group would kick out the tenants. Are they planning on closing the building for good or doing something with it [[remodel, convert to other use)??

Maybe it was costing more to keeep the building open even with a few tenants? Maybe it wasn't worth it?

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Originally Posted by Patrick

Maybe it was costing more to keeep the building open even with a few tenants? Maybe it wasn't worth it?

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If the building is such a money pit, why did the "Miami-based developer" buy it in the first place? It sounds like it was a recent purchase. Are they planning a major renovation/repurposing, or are they just speculators and are gonna mothball it until office space in downtown Detroit become valuable enough to reopen it?

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Originally Posted by buildingsofdetroit

Have to correct myself: I forgot about the Book Tower. So the Stott will be number two in the city and third nationally.

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what's empty and taller than the book? thought that was the tallest empty in the US. Did Carl's computers get kicked out too?

I was also wondering what #1 was?

Book Tower.... 475 ft.
Stott Tower..... 437 ft.

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Originally Posted by Gistok

Book Tower.... 475 ft.
Stott Tower..... 437 ft.

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And Davey Broderick is 369 ft.

http://www.freep.com/article/2010093...wer-in-Detroit

Unless I missed something, we were all unsure of the plans for the Stott after the old tenants got kicked out. The article gives some more information about the new owner's plans. If the rents are reasonable and they offer some good amenities, I'm sure the apartments would fill up in no time.

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Developer Emre Uralli, doing business as Citi Investments,...

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A renovated David Stott Building is a renovated David Stott Building, certainly, but his d/b/a is huckster-rific, IMO.

A friend of mine who's a former tenant said he was asked if he'd want to come back into the building. He'd spent 30 years in the Stott only to be kicked to the curb and now they want him back? I said forget it. Besides, that building is in such disrepair. Half the the time the elevators didn't work, the windows were falling apart, the bathrooms were awful. It's a shame but pretty much a classic tale in Detroit of leaving great structures for ruin.

No one has mentioned that there are a few cute Parducci details to be spotted around the main entrance and, if I recall correctly [[getting to be a dicer and dicer proposition) on one of side sides and perhaps in the lobby. eek

On October 4 a crew of men were removing furniture and garbage from the Stott building, and a long banner was unfurled on the southern face of the tower reading "4 RENT" and a 313 number before it fell off the building around 10-10-10. Anyone know whats going on??

The Stott was listed for sale as of a few months ago and there is a long thread on it right here

http://www.detroityes.com/mb/showthr...ighlight=stott

i heard someone say it would be worth more as a parking lot than redeveloping it., could that be true?

...Well anything is more valuable than an empty skyscraper. At the moment it's just a liability and an expense for the owners. But the parking lot wouldn't likely turn a profit. Small lot = only a few spaces. Plus parking in downtown is cheap. You won't be charging much daily. Maybe if you charged $100 / day per space you might just get something out of it.

The exterior lights on David Stott Tower are totally illuminated tonight. I have not seen those lights on in several months. You can actually see the building in the night skyline for a change. Wonder if it means anything...

It means they tapped into their neighbor's line to try and boost the selling price.

It really looks beautiful all lit up - I can't recall ever seeing it with ALL the lights on the top. And the Penobscot is lit up once again. Makes a big difference.

Doesn't appear though that there are ANY tenants in the Stott, except on the ground floor. My office building has a clear view into the building on one side, and there is no sign of life in the tower, however there is an active buildout of one of the ground floor retail spots. The for lease sign was ripped off by the high winds a couple weeks ago, but a replacement has been put up on the side of the building. It does seem as though the new owners are at least actively trying to do a little something with it. Hopefully it works

It looks like their doing some interior build-out in one of the ground floor commercial spaces on the State Street side. I saw construction lighting inside and it looked like drywall or some other type of wallboard going up. And now I see Spirit said the same thing but I'm going to leave this here and second the hope that another viable business moves in.

Any pictures of the night lighting?

Stromberg2

'Twas all lit up again perty tonight too. I didn't take any photos but this one shows how good it looks!:

http://www.flickr.com/photos/55639959@N00/383881731

Went down to Winterblast on Saturday night and the top was lit up nicely like the picture, but the ground floor was pitch black. Any recent developments with what is happening with the building?

The top lights are on until 3:00 am or so.

I've noticed office lights on midway up at night lately...corner offices.

For sale...$10.9 million

http://www.loopnet.com/Listing/17144...et-Detroit-MI/

If I ever won the lotto....

LOL - I was thinking the same thing.

$11 million purchase price is absurdly, comically high. $111 million looks like a nice figure. Why not list it for that price? Sheesh. Why do flippers/speculators play such games? Just asking.

Really? I think it's a steal for a 40+-storey historic art deco skyscraper in the center of a major American city. You could probably talk him down to $9.5 or $10.

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Originally Posted by swingline

$11 million purchase price is absurdly, comically high. $111 million looks like a nice figure. Why not list it for that price? Sheesh. Why do flippers/speculators play such games? Just asking.

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What would be a reasonable asking price? What is the building even worth?

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Originally Posted by swingline

$11 million purchase price is absurdly, comically high. $111 million looks like a nice figure. Why not list it for that price? Sheesh. Why do flippers/speculators play such games? Just asking.

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Considering there are houses in the suburbs on the market for 4 or 5 million, 11 million for a skyscraper in the heart of downtown sounds like a pretty damn good deal to me. I Stott is not a ravaged shell like the Broderick- it's still a viable building.

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Originally Posted by Gsgeorge

Really? I think it's a steal for a 40+-storey historic art deco skyscraper in the center of a major American city. You could probably talk him down to $9.5 or $10.

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If it's such a "steal", then go and buy it!

The property is probably close to worthless without a broad and deep mix of redevelopment cash, loans and tax credits. Once those are in hand, the property can be properly valued.

At this point, though it's a turkey and probably worth close to nothing. Let's see the taxes and liabilities.

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Originally Posted by drjeff

Considering there are houses in the suburbs on the market for 4 or 5 million, 11 million for a skyscraper in the heart of downtown sounds like a pretty damn good deal to me. I Stott is not a ravaged shell like the Broderick- it's still a viable building.

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The two are not in the least bit comparable.

I wonder what it would go for [[$) in Lower Manhattan --LOL!

90% of the David Stott Building is vacant. The owners just couldn't lure some investors into the area because of the Capitol Park at the time was home to lots of DEAD [[C)KRAK HEADS, po'folks, pigeon rats, mutants and those waiting for the D-DOT busses.

Most commercial real estate investors use a formula based on Net Operating Income to determine the value of the building. The listing shows an NOI of 575,000, which would give the building a value of 5-7 million.

$11 million is still way too high of an asking price, but it's clear the Stott has some value. It's not vacant yet. Hell, if the buyer could get it to 50% occupancy they'd start doing pretty well for themselves. That's obviously a big "if" with with a lot of space still available in buildings like One Detroit Center and the Penobscot, but it's certainly posssible.

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Originally Posted by Khorasaurus

Most commercial real estate investors use a formula based on Net Operating Income to determine the value of the building. The listing shows an NOI of 575,000, which would give the building a value of 5-7 million.

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I would like to see the broker's pro forma, because I cannot imagine an NOI of 575k. I would be surprised if even the cash flow from rents and advertising were 575k.

Didn't this building just sell for 1.5mm? I could'a swore that it did.

Interesting to note Hudson's standing in back of the Stott in that for sale advert.

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Originally Posted by Bham1982

I would like to see the broker's pro forma, because I cannot imagine an NOI of 575k. I would be surprised if even the cash flow from rents and advertising were 575k.

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I don't necessarily disagree, but that's what the listing says. I suspect the operating expenses aren't high, so most of the rent from the tenants they do have is profit at this point.

I had thought that this building was vacant but when viewing Detroit's skyline you'll notice that the upper reaches of the David Stott Building are lit at night, it's like up like the Penobscot Building at night with the upper reaches being lit from the outside. The way you notice this building is there are two red brick art deco skyscrapers on Detroit's skyline, the David Stott Building and the Guardian Building. Is this building now vacant?

It's not vacant. It certainly has first floor tenants. I've heard conflicting things about the office portion, but there may still be a few hanging around.

Certainly the vacancy rate is well over 80 if not 90 percent, but it's not completely dead.

The current owners I believe brought back the lighting on top, which is great. Earlier in this thread there was talk of them making some changes, including renovating many floors into residential. If they're now selling it it looks like that won't be happening, which is too bad.

Well that is too bad that they are selling it and the possibility of residential in that building is slim now. It'd be nice to have residential in that part of downtown. I've always wanted to see Capitol Park redeveloped but I'm not sure into what.

A friend of mine in the Black Crowes always said Capitol Park reminded him of Greenwich Village. I agree, one of the best looking spots in the city.

Stromberg2

I may have been mentioned here I didn't have it in me to read through three years of posts, why is there a lighted martini glass on the top portion of the tower facing north? That would be an awesome place to have a drink. Just saying.

Building looked great tonight from the Detroit and Windsor sides. Glad to see it all lit up!

http://www.modeldmedia.com/devnews/s...ahl061411.aspx

Be sure to click on the SKYBAR LOUNGE webpage.... I was mesmerized for about 15 minutes watching the scenes from the bar, the building lobby and the views from the top of the building... all to very nice music.... WOW......

I'm still bitter about the forced move!!!, but, it does look good...

I wish them success in their planned conversion to condos.

Wow, damn cool pictures! I wish them great success and will stop by one of these days.

Stromberg2

I been to the David Stott Building with my mother to take care some business. It was somewhat at the 20th floor. That building at that time was 50% occupied. Then by 2008 Most of the building floor by floor is vacant except a few retail and the 2 new lounges opening soon.

I still think those Martini glasses atop the building are horrible looking. So cheesy.

I like the glasses. We already have 3 casinos, one with neon tye-dye. This is not bad at all. Capitol Park needs some non-crack related 24hr foot traffic. There are already a fair amount of students and artists living in lofts there, and D'mongos, Lafayette Coney, etc contribute to the district, but there's a lot of room to grow.

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Originally Posted by j to the jeremy

I like the glasses. We already have 3 casinos, one with neon tye-dye. This is not bad at all. Capitol Park needs some non-crack related 24hr foot traffic. There are already a fair amount of students and artists living in lofts there, and D'mongos, Lafayette Coney, etc contribute to the district, but there's a lot of room to grow.

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Just think they could have done a better job with the glasses. But I do agree that CP needs some more traffic. There really is a ton of potential. It could be one of the cooler spots, districts in downtown. I guess it'll have to wait until I win the lotto.

Does anyone know if anything has changed for this building over the past four Years?