El Diablo Building Sells For Almost 7 Million 101 South Broadway

Dated: 12/04/2015

Views: 597

The coveted El Diablo building at 101 Broadway sold for $6.55 million on Thursday morning, officials said.

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The building that went on the auction block, after being boarded up for more than two years, now is under the ownership of Digital Cowboy, LLC, bankruptcy trustee Tom Connolly said.

"We were pleasantly surprised with the results," Connolly said.

Listing agent Jim Macguire had estimated the building would sell for more than $4 million.

The property, on a prime corner in the hip Baker neighborhood, is a city of Denver landmark known as the First and Broadway Building. It has been embroiled in legal trouble since at least 2012, when its previous owner Jesse Morreale was ordered to shut down his El Diablo and Sketch restaurants. The city claimed modifications he made to building made it unsafe. The building has been vacant and boarded up since April 2013.

Connolly and Macguire said they did not know what Digital Cowboy plans to do with the building, which still requires structural work to comply with city codes. Connolly last month said bidders had plans that ranged from condos and retail to a high-end hotel.


Denver Colorado Real Estate Professional -Michael Steffen

Michael is a motivated realtor specializing with investors and new home buyers located in the following areas; DenverArvada,Aurora and surrounding areas. Michael Steffen uses advanced internet marketing to insure your property gets maximum exposure and holds a high value of ethics in his work to ensure the ideal scenario for everyone! For help with buying or selling a property call 303-981-2750!

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Michael Steffen

My name is Michael Ross Steffen. I’m an Exit Realty Cherry Creek Agent in the Denver metro area. I specialize in advanced marketing, buying, selling and investing for seasoned, as well as first time....

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