YOUNGSTOWN — The sale of the downtown Chase Tower has closed and for more than it went for at auction in August.

A property transfer with the Mahoning County Auditor’s Office shows New York City-based Ashiana Homes Inc. bought the landmark building at 6 W. Federal St. for $918,750 — that’s $43,750 more than last month’s winning $875,000 online bid.

The transaction with USA Chase Building Youngstown LLC, an affiliate company of Cleveland-based parking and property development firm The Frangos Group, was finalized Tuesday.

The 14-story, 135,300-square-foot building built in 1925 initially was sold during an April 21 online auction to an unidentified Miami development company. That company didn’t have the required equity at closing and asked for more time, a request that was rejected.

Subsequently, the building was placed back on the auction block. The second auction was Aug. 11.

USA Chase Building Youngstown LLC purchased the building for $775,000 in 2008. Before the auction, the Chase Tower was listed for $2.7 million, but traditional efforts to sell the building were unsuccessful, which is why the company took the online auction route.

The Chase Tower was the last property in Youngstown owned by the Frangos Group. The company purchased its first property in the city in 1998 and during the early 2000s was considered downtown’s biggest landlord.

Frangos developed Realty Tower Apartments in 2009. But the company sold it along with a dozen buildings, mostly in downtown, including Stambaugh Building, Erie Terminal Place, Wick Building and the Plaza parking deck.