Commercial Realty Advisors is pleased to offer the opportunity to purchase the historic Loewy Building, located in the heart of downtown Winston-Salem, North Carolina.
This unique architectural gem was originally commissioned by Kate B. Reynolds in 1921. She hired local architects Northup and O’Brien to design two buildings that would encompass the full block. The original tenants were Morris-Early Furniture and Sosnik’s Department Store. In the late 1940’s Sosnik’s merged with Thalhimer’s and they commissioned the famed New York Design Firm of Raymond F. Loewy Associates to remodel the store.
Raymond Loewy Associates’ interior design for the Winston-Salem Thalhimer’s was featured in Interior Design magazine in September, 1950. The article observed: “that many department stores tend to emphasize in their design and arrangement the aims and character of the community they serve. The Sosnik-Thalhimer Department Store, a high quality women’s shop in Winston-Salem, is such a store, combining gracefully all the aforementioned qualities yet representing a new departure in store design. Its services are addressed to the more affluent customers in this rich tobacco country… Style was another important consideration, and in deciding upon the elimination of the stark, cold
phases of modern and concentrating upon a scheme of Louis XV and mellow eighteenth-century Italian, combined with the more pleasing and friendly phases of modern, a style was evoked that has won acclaim from the clients and their customers alike.”
OFFERING SUMMARY
The iconic Winston-Salem property sits on ±.97 acres with approximately ±80,000 SF and 65 Surface Parking Spots. The property presents a great opportunity for redevelopment as a boutique hotel, condominium or apartment building, or office building with retail and amenity space on the ground level. The property’s Historic Designation and its location in an Opportunity Zone offers potential economic subsidies and incentives to improve the overall feasibility of the redevelopment project. A truly iconic presence in Winston-Salem, The Loewy Building, is one of the landmark
properties of Downtown Winston-Salem.
OFFERING HIGHLIGHTS
- Iconic historic property that qualifies for Historic Tax Credits and is located in an Opportunity Zone
- Property size and layout are well suited for multi-family, hotel, and office development
- Well located in the center of Winston-Salem’s vibrant downtown