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Downtown properties are sold

February 27, 2006|by ANDREW SCHOTZ

HAGERSTOWN

andrews@herald-mail.com

Real estate owner Vincent Groh has sold three downtown Hagerstown properties to Demcore Development, according to state property records.

The buildings are:

  • 1 N. Potomac St., which houses Rocky's New York Pizza. The sale price is listed as $210,000.

  • 13-15-17 S. Potomac St., which houses the Maryland Symphony Orchestra office in the front and storefronts in the back, along Hager's Row. The sale price is listed as $800,000.

  • 101-103-103 1/2 S. Potomac St., which houses Barnwood Books. The sale price is listed as $575,000.



Maryland Department of Assessments and Taxation records show that the properties were transferred from Groh and his realty company to separate limited liability corporations in care of Demcore Development's West Washington Street address.

On Friday, Mike Deming, Demcore's president, did not return a message left at his office and an e-mail seeking comment. N. Linn Hendershot, who is helping Demcore with the projects, also could not be reached.

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Frederick, Md., attorney Bruce N. Dean, the resident agent for all three limited liability corporations, didn't return a phone message Friday afternoon.

Groh did not return a call left at his real estate office Friday afternoon.

During interviews in September and last month, Deming hinted at a series of downtown property transactions that he said would be completed soon.

Department of Assessments and Taxation records say that the two South Potomac Street properties were transferred on Feb. 6. The North Potomac Street property was transferred Feb. 9.

Demcore is refurbishing 28 S. Potomac St., the former Schindel-Rohrer building, which it bought last year for $905,000, property records show. Demcore plans to open a restaurant/nightclub and another restaurant and to lease the upper floors for offices.

In the downtown core, Demcore also owns 2-4 Public Square and 6-16 W. Washington St., where its office is.

A Feb. 22 building permit posted in the window of 43 S. Potomac St. lists Michael Pishvaian as the owner and Deming as the contractor. The permit says Deming is improving 43-45 S. Potomac St., which is vacant, to turn it into a restaurant.

Marcel's Bakery & Cafe opened there in 2004, but has closed.

One Hager's Row storefront contains a shop called Downtown Music & Fashion. A sign in another storefront says Piedmont Gifts & Gourmet Coffee will open soon.

Demcore tried to buy The Maryland Theatre on South Potomac Street, but the theater's board later decided not to sell the building.

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