Coverage of the Sale of the YWCA Building

From The Roanoke Times: “The former YWCA building at 605 First St. in downtown Roanoke has new owners.

A developer, under the company name of First and Franklin LLC, has purchased the property for $615,000. Michael Waldvogel of Waldvogel Commercial Properties, who brokered the sale, said the new buyers are still evaluating the building in order to determine specifically what it will be used for. But part of it will likely be turned into a residential project.”

Read the rest of the article here.

Roanoke Times Coverage of the YWCA Building Sale

From The Roanoke Times: “The former YWCA building at 605 First St. in downtown Roanoke has new owners.

A developer, under the company name of First and Franklin LLC, has purchased the property for $615,000. Michael Waldvogel of Waldvogel Commercial Properties, who brokered the sale, said the new buyers are still evaluating the building in order to determine specifically what it will be used for. But part of it will likely be turned into a residential project.”

Read the rest of the article here.

Waldvogel Commercial Properties Brokers Sale of YWCA Building in Roanoke

YWCA BuildingWaldvogel Commercial Properties has brokered the sale of former YWCA Building at 605 1st Street in downtown Roanoke. The firm was the listing and selling company. Michael M. Waldvogel, CCIM, SIOR and Krista Vannoy, CCIM represented DePaul Community Resources in the transaction.

The 28,167 square-foot building was built in 1930 and served as the home of the YWCA of Roanoke Valley. It sold for $615,000. The buyer is First and Franklin, LLC.

“We’re proud to be part of the future of this iconic Roanoke building,” said Waldvogel.

Waldvogel Commercial Properties has brokered numerous sales and lease transactions in Roanoke’s Central Business District and is highly skilled in the intricacies of historic redevelopment properties. The firm also specializes in representing non-profit and community service organizations.

The Ponce de Leon Opens in Downtown Roanoke

Ponce opening
The Ponce de Leon officially opened its doors August 30. At that time, 90-unit apartment building was more than 87 percent leased, and work is underway on the first commercial tenant, Rock Paper Beauty Salon.

Pre-leasing began in May for the iconic building at the corner of Campbell Avenue and Second Street It has been undergoing a transformation from its former life as the Crystal Tower office building since October. Move-in begins today.

The renovated building features eight floors of apartments, street-level commercial space and a stunning lobby and ballroom area which is being marketed to potential restaurants. Apartments feature stainless steel appliances, washers and dryers, granite countertops and hardwood floors. Tenant amenities include a fitness center, a roof deck and a water garden that makes use of the spring the runs beneath the building.

The building has a history almost as old as Roanoke’s. After a fire destroyed the original 1890s structure, the Ponce de Leon Hotel was erected on the corner of Campbell Avenue and Second Street in 1931. The hotel operated for decades as a prime example of art deco architecture and lavish interior design. In the 1970s, the entire building was converted to office space, and the grandeur of its interior was lost for 40 years. Developer Faisal Khan, principal of Crystal Tower LLC, purchased the building from Total Action For Progress (TAP) in 2012. Waldvogel Commercial Properties brokered that sale and is the leasing and management agent.