Five-story St Louis landmark once listed for $1.4m now asks $800,000
A historic five-story Gothic Revival building in downtown St. Louis, formerly used by the National Cash Register company, has had its asking price slashed to $800,000. The property features unique architectural details and has been repurposed by previous owners as a creative living and working space.
Why it matters
It reflects the challenges and opportunities of repurposing historic commercial real estate in urban centers.
‘The Cosmopolitan’ in St Louis, Missouri, is no ordinary home. Built in 1896, this historic St Louis building once housed the National Cash Register company. Originally built as a place for commerce, the kind of sturdy brick-and-mortar operation that once anchored downtown, the property is now up for sale, according to Realtor.com.The five-story structure is now listed for $800,000, nearly half of its initial asking price of $1.4 million, in less than four years. That's $75 per square foot for a 12,000-square-foot Gothic Revival building in downtown. The buyer is not merely investing in an ordinary house, but an enormous historic building that looks and feels like an art museum, and they get to live and work in it.Historic five-story buildingThe St Louis historic building has had many owners before finally being listed again. After National Cash Register’s tenure, the building became a showroom for Clark Peeper furniture.
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