The New York-based development firm that recently purchased the long-vacant Clarion Hotel in downtown Hartford, paid $500,000 for the property, city records show.
The selling price represents a $1 million discount from the price paid in 1995 by the previous owner, the Maharishi Global Development Fund.
Wonder Works Construction and Development bought the 47-year-old vacant Clarion Hotel on Constitution Plaza last month and plans to turn it into apartments.
The development firm created a limited liability company in Connecticut, 5CP, which is listed as the new owner of the property.
Wonder Works officials have not made themselves available to the media yet, but sources say they have been in the city recently familiarizing themselves with the market.
The 12-story hotel, once seen as a crucial part of the development efforts of downtown, has been an eyesore for the city, sitting vacant on Constitution Plaza for more than 10 years.
Built in 1964, the hotel operated variously as the Sonesta and Summit.