Chirafisi, who represented both buyer and seller in the deal, believes the transaction is the largest closed sale of a downtown residence this year.
Denver attorney Dianne Miller of Miller Rosenbluth LLC purchased the 4,000-square-foot tea room-turned-loft from entrepreneur Rutt Bridges. The seller bought the loft in 2000 for $1.15 million.
The sale closed Dec. 7.
"The sale of the Denver Dry Tea Room shows the strength of the market for unique, historic properties in Denver," Chirafisi said. "It also shows the diversity of the downtown housing market."
Located on downtown's 16th Street Mall, between Stout and California streets, the Denver Dry Building was designed by venerable Denver architect Frank Edbrooke. The three-story structure was completed as a department store in 1888. The store closed in 1987.
In the 1990s, the structure was refurbished as office and retail space as well as market-rate housing, under the guidance of the Denver Urban Renewal Authority.
The Denver Dry now includes 350,000 square feet of space in six stories, and retail tenants such as Starbucks Coffee, Aveda Institute, Wolf Camera and TJ Maxx clothing store.
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source: bizjournals.com
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