Bostwick Building: Sold for $165,100

JACKSONVILLE, Fla. — The historic Bostwick Building on the corner of Ocean and Bay streets officially has a new owner.

After a nearly 15-minute bidding war Monday between several companies and individuals, the winning bid capped off at $165,100.

It came from an attorney representing Foodonics Equities, LLC, a company owned by Jacques Klempf.

It's unclear what Klempf plans to do with the building but Klempf's attorney sent Action News this statement:

“The Bostwick Building has been an iconic structure in Downtown Jacksonville for well over a hundred years. Our goal is to restore the building so the community can enjoy an importantpiece of our city’s history and to promote economic development in downtown Jacksonville.”

According to the mayor's chief of staff, Chris Hand, Klempf has 10 days to make the full palyment to the Clerk of Court.

"From a Mayor’s Office perspective, we are optimistic about the future of the Bostwick Building given Mr. Klempf’s previously stated plans to revitalize the building while preserving  its historic character," wrote Hand.

Earlier this year, the city won a lawsuit to foreclose on the building, according to the Jacksonville Business Journal.

The previous owners, Guaranty Trust Investments, were facing a significant fine and wanted to tear it down because the building was beyond repair.

More than $78,000 of the winning bid will go to the city to pay off a judgment lien.

Adam Dukes, who co-founded Forge Manufacturing located near the Bostwick, said he's excited about the purchase.

"Anything that increases foot traffic downtown is a plus for us. We like to have people come in and check us out during the day so if we get a nice restaurant or any kind of retail stores, it'll help spread the word and get more customers," said Dukes.

The outside of the building appears structurally sound but the interior needs major renovations.

"It's going to have to be totally reframed on the inside. There is going to be some loss of material but all in all, there's still going to be some historic fabric left on the inside," said Joel McEachin, supervisor of the Jacksonville Preservation Commission.

Mondayt afternoon, two men were seen taking boxes out of the building. They didn't want to speak on-camera. Action News reached out to the building's previous owners but our calls were not immediately returned.

It's not the first time Klempf tried to purchase the building. Last year, he was in a contract to buy the land and building but the deal fell through because of a pending lawsuit by one of the building's neighbors.

WJAX