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Historic Gaslamp Quarter building with basement once used as a speakeasy sold for $1.85M

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A three-story commercial building in Downtown’s Gaslamp Quarter whose basement served as a speakeasy during Prohibition has been sold to real estate developer Evan Rundle for $1.85 million.

The 7,500-square-foot building at 937-939 Fifth Ave. was constructed in 1911 as the Manhattan Hotel & Restaurant.

In the 1930’s, the exposed-brick building was remodeled in the Art Deco style with exterior bas-relief panels and interior white mahogany and walnuts details.

UBS Properties sold the building with representation by Bill Shrader of Colliers International San Diego.

Evan Rundle acquired the property with representation by Dion Noravian of Green World Realty. The new owner plans to convert the building for residential use with ground floor commercial.

“Since 1912, this property has only had two owners and has not been listed for sale since 1928,” said Shrader. “This was an incredibly unique opportunity for the new ownership to acquire and revitalize a storied piece San Diego’s Gaslamp District.”

By: SD Metro Magazine