Alexander Levin, who owns a significant amount of retail property in Sheepshead Bay, Brooklyn may be rewarded the Grand Avenue Mall in Milwaukee after it was believed he placed a high bid. An online auction from the Grand Avenue mall ended October 23 with a high bid of $16.5 million, according to Auction.com. Although the identity of the high bidder was not revealed, some sources identify Levin.
A nonprofit group, WAM DC LLC, headed by lawyer Steve Chernof, dropped out of the bidding, but looks forward to working with Levin. Chernof told the Milwaukee Journal Sentinel, “I hope he is terrific and has a great plan. We’d love to talk to him and see if he can be helpful.”
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The Grand Avenue Mall is 293, 596 square feet with a 1, 748 stall parking structure. The Redevelopment Authority board gave $20 million in financing for WAM DC to buy and redevelop Grand Avenue, with a plan to convert part of the space to house programs for local colleges and universities.
