SAN ANTONIO – Local developer GrayStreet Partners has purchased a slate of property downtown, running from 100 to 108 Soledad Street. The building’s current tenants include a Lucky’s Food Mart convenience store and a Western Brands western apparel store. Both parcels amount to about a .36-acre footprint or 15,708 square feet.
Downtown real estate doesn’t change hands often. One of the buildings housed the Mexican Manhattan restaurant, a staple of the urban core that opened in 1958 and closed at the height of the COVID-19 pandemic in 2020.
Terms of the deal weren’t disclosed, though Bexar County records show an LLC tied to GrayStreet partner Kevin Covey and Christopher Grossman paying $6 million for the two parcels of land. The 2022 county appraisal of those parcels put their combined value at about $3.9 million.
The move comes after the firm sold the building at 812 South Alamo Street to Austin-based real estate company Ironwood Real Estate. According to county records, Ironwood took out a $6.96 million loan from State Life Insurance Company to finance the acquisition, though the county values the site at $2.6 million.
812 South Alamo houses Mixtli, Brown Coffee Co. and a franchise location for Gus’s World Famous Fried Chicken.
Read the full story in the San Antonio Business Journal.
Editor’s note: This story was published through a partnership between KSAT and the San Antonio Business Journal.