222 E Main

[Patrick]

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|category1=Housing
|category2=Bricktown
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|project=222 E. Main
|address=222 E. Main
|status=complete
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|height=2 stories
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|other=4 rental units on 2nd floor; office space on 1st
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Latest News & Information

Four rental units listed for $1,295.

Includes enclosed parking accessed from the rear (south).
Links

County Assessor Record
Gallery

[Uptowner]

From downtownguy's blog...www.downtownguy.blogspot.com

"A New Bricktowner Speaks


Now that I've got email, I never know who is going to write. The latest email is from Michael Brewster, who saw my post about him buying a century old Bricktown building. Here's what he had to say:

"I just read your blog about the building I bought from
John Freeman. I was happily surprised to see that it
got a little buzz. The plan is for there to be 4
modern downtown apts/condos on the second floor and
commercial space downstairs. The condos will all be
over 1000 sq ft each and there will be a cool rooftop
deck with a hot tub. I'm actually looking for someone
who wants to open up an internet coffee shop
downstairs and maybe someone who wants to open an
office or any other good ideas for a downtown
business. With the police station being put in
accross the street I am going to avoid the bar/comedy
club idea. By the way the name Bre Ha Ha is just a
play off of my last name Brewster. Every year on my
birthday I have a huge birthday party and it has
become known as the annual Brew Ha Ha. Anyways, I
love the site and feel free to post any or all of this
on your site."


------------
"222 E Main, built in 1906, has a new owner, Michael Brewster, under the name of Brew Ha Ha Industries. What's his plan? Does Ha Ha indicate a return of comedy clubs to Bricktown? One thing for certain: after paying $325,000, it's unlikely a person will let this overlooked gem stay empty for long. And with Main Street being fixed up by the city, Walnut Bridge being rebuilt, and the nearby Rock Island Freight Depot being turned into a police station, don't be surprised if development picks up along Main Street."

[metro]

Can someone send me contact info on buying/leasing one of these condos??

[ptwobjb]

Me too!

[Patrick]

I won't present the contact info. here, but Michael Brewster is in the White Pages...smartpages.com

[metro]

Looks like 222 E. Main is for sale. They recently remodeled this building and painted it white. I have a picture in my gallery:

http://www.okctalk.com/gallery/showg...er/204/cat/500

[GWalker]

Yea and they probably only want 20 times what that old run down warehouse is worth!!!

[metro]

I forgot what the guy told me, I think around $1500 a month plus deposit for an 800 sq. ft. unit. I wouldn't call it a run down warehouse though, it's been completely gutted and remodeled both interior and exterior redone.

[GWalker]

Well the property was bought on 6/30/2005 for $325,000 and its 8750 sq feet which is almost 11 units at $1500.00 per month and if rented at full capacity that would be $198,000 a year for a property valued at only $325,000 (on the county assessor site its only apprasied at $268,985). If this were equal to the purchase agreement square footage price you would pay $5,940,000 over the course of a 30yr loan. Did I mention that is was built in 1909? No amount of surface renovation will make this property worth the amount. If they were to do a total renovation(plumbing, electrical, foundation and strutural treatment etc...)it still wouldn't be worth that price and keep in mind that these are rental prices. God only know what they would want to sell it but most don't want to sell, they only want to (f)lease!!

People down there buy these warehouses cheap and want a mint for them. It seems to be the only "visionary" bussiness ideas they are capable of (this and setting up yet another flavor of the month bar). This is why there are all these run down empty warehouses rotting down there. Everyone thinks there worth a million! Way to go! That will make a mark on improving our city's stature and bring in the tourists!!!

[metro]

It's the same problem in Dallas or elsewhere. It's a hip warehouse district and there is limited living options. Maybe I was wrong about the square footage. This building will only have 4 units total, 2 for sale, 2 for lease. You can find out more about it at www.downtownokc.com and download the Skyline Snapshot for quarter 2.

[GWalker]

Yea, I used to live in Dallas and did most of my work in the Westend which is of course their version of the old warehouse district. I can tell you that the OKC market is WAY more expensive than even Dallas' westend! The potential revenue market here can't begin to touch the Westend's market. The realestate people here think their warehouses are made with golden bricks! Somebody needs to pull the crack pipe out of their mouth!

[shane453]

When I read the Skyline Snapshot it said that the building also includes enclosed parking and a retail area, so that takes up a good bit of the square footage, I'm sure.

[metro]

But the Westend also has more living options. Currently this is the only one in Bricktown that is ready to go.

[Spookytourchick]

Oh... the things I could do with that building!!

[metro]

Has anyone driven by here lately? They've made some major changes just since last time I posted some pictures. New glass front and some high tech blue glass balconies? I tried to post pics in my gallery but keep getting error messages, I'll keep trying though.

[Spookytourchick]

Another BAR? Geesh.. just what Oklahoma needs.

[metro]

NO it's not a bar. As I mentioned above months earlier,it is going to be loft apartments, two for sale and two for rent. There is a good possibility for some ground level retail as well. The space is very nice and high-tech looking. If you haven't seen it lately, you owe it to yourselves. I still can't upload pics for some reason, I'll ask Todd.

[Spookytourchick]

Thank GOd! lol

[metro]

Pics are now uploaded go to my gallery:

http://www.okctalk.com/gallery/showg...500&ppuser=204

[Pete]

This building just sold for $1.15 million to an LLC that tracks back to Jeff Johnson.

Steve Lackmeyer recently reported that Johnson is one of the investment partners in the Mideke Building, along with Tom Ward, Andy Burnett and Zach Martin.


Lots of properties changing hands in Bricktown recently.

[SharkSandwich]

http://m.youtube.com/watch?v=uO1B5yaoJyU