Milwaukee Business Journal identifies winning Grand Avenue Mall bidder

MILWAUKEE (WITI) -- The Milwaukee Business Journal is reporting a New York real estate investor is the individual who has purchased the Grand Avenue Mall in downtown Milwaukee.

The Milwaukee Business Journal, FOX6's media partners, broke the story on Thursday, October 30th.

The buyer is Alex Levin -- a Brooklyn real estate investor who specializes in distressed retail properties. He is the $16.5 million winning bidder in the Shops of Grand Avenue's auction.

The Milwaukee Business Journal says Levin has confirmed to them he was the top bid, and the Business Journal is reporting Levin is behind documents filed with the state to incorporate a company called "Grand Avenue Mall LLC."

Levin appears to have out-bid a local development group which had hoped to purchase and redevelop the downtown mall, according to the Business Journal.

The auction results do not finalize until November 13th.

CLICK HERE for much more on this story via the Milwaukee Business Journal.

The Business Journal talked with Alex Levin on Thursday. He says he wants to work with the community to breathe new life into the downtown mall. CLICK HERE to read that article.

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