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El Diablo Building Sells For Almost 7 Million 101 South Broadway
Dated: December 4 2015
The coveted El Diablo building at 101 Broadway sold for $6.55 million on Thursday morning, officials said.
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.
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