Jacksonvile's infamous eyesore downtown, the Berkman II building, sold for more than $4 million, First Coast News learned on Thursday.
Documents obtained by First Coast News show that the price for the incomplete building was $4,750,000.
The question of everyone’s mind: how soon will it look like a normal part of the Duval skyline? That answer, like most details of the project, remains unclear. Some things are known, however.
“It has been a long time coming to get this transaction done and get it in new ownership with a group that has a plan,” Jacksonville Mayor Lenny Curry said. “It is a focus on trying to put together a buyer for the Berkman II over the last three years. One deal falls apart, but we say we are still focused on putting together a deal and we move to another buyer. We are on our third or fourth prospect and the deal is closed.”
“You’re going to see Lot J and the Shipyards done with the Jags. Then as you
begin to move down, the Berkman is another piece of the puzzle and showing
progress. This is a win for Jacksonville. This is a win for downtown," Curry said.
First Coast News has not been able to verify any details of the sale. Court records were not immediately available. As of now, no one has asked for tax dollars towards the Berkman.
“There hasn’t been an ask," Curry said. "Right now this is a private transaction. Property sold to a private developer."
Here is what is known regarding the sale of the property:
A deal to purchase the Berkman II has closed, according to Curry.
The new owners have expressed intentions to develop the existing unfinished structure, according to Curry.
The proposal includes plans for a hotel, riverfront entertainment area, and parking garage, according to Curry.
We also have confirmed, through a spokesperson, Jaguars owner Shad Khan is not part of the project. He is trying to develop the adjacent land known as the Shipyards.
“A piece of property like that, let us say if there was not structure on it or if the skeleton was removed, would probably go for two and a half million to four million,” Duval County Property Appraiser Jerry Holland said. “Depending on the infrastructure and the dock in front of it, it could easily go for four million dollars.”
"I think most people think it is under development. If they are here for the first time it looks like a construction site," said Visit Jacksonville Vice President for Marketing and Communications Katie Mitura said. She says redeveloping the Berkman II makes Bay Street a more desirable place. “It is the fact that it is filling in a hole on Bay Street is wonderful. Just the opportunity to look like a complete city."
At the time of this publishing, Holland wasn’t aware of any details related to the Berkman II purchase. On Monday, he told First Coast News, the longer the property sits vacant, the city of Jacksonville was potentially missing out on an additional $400,000 a year in tax revenue.
“It has become to the point where the structure has no value," Holland said. His office is located blocks from the Berkman II and can be seen from his office window. “What you’re seeing is progress on hold. It's right there. It is a daily reminder." The city makes less than thirty thousand dollars per year, according to Holland, but if the site was developed, Jacksonville could make ten times per that each year.
“What we looked at is what the value would be in the future or if it was completed for a similar project like Berkman, you would look at the taxable value of over 35 million and that where you generate the $400,000 in revenue back to the city." Money that could be used to improve downtown.
“If you pick up an almost four hundred thousand there is a lot you can do with that from improvements to additional maintenance," Holland said. “It is not helping Jacksonville. It is again an image that puts us on hold," Holland said.
“We will very soon be to the point where people driving through Downtown won't be going
‘What is that eyesore? What is that train wreck? What is that terrible building?” Curry said.