Downtown building to be auctioned next month

YOUNGSTOWN — The owner of the 107-year-old Federal Building in the city’s downtown is putting it up for auction Oct. 20.

The four-story downtown Youngstown building has been in Attorney Robert Melnick’s family for 30 years. Melnick owns the property through his Arjon Realty Co. business.

Melnick, whose law office is on the building’s third floor, said that “it’s a good time” to sell the building that is on the northwest corner of West Federal and North Phelps streets.

“There is more downtown activity than I’ve seen in 20 years,” Melnick said.

The building can be purchased before the auction for $150,000. The auction at the building on 100 W. Federal St. is at 11 a.m. Oct. 20.

While there’s been calls by those interested in the building, there are no takers, Melnick said.

If the building is auctioned, the minimum bid needed to buy it is $90,000, said Paul Basinger, broker and owner of American Real Estate Specialists, the North Lima company handling the Federal Building auction.

Under the right circumstances, Melnick said he’d be willing to enter into a partnership agreement to share ownership of the building.

For the complete story, read Wednesday’s Vindicator or Vindy.com