Samaaan bought the building in May 2018 for $300,000 and says he has invested about $800,000 total in updating all of the site’s 27 apartments.
But he believes the two penthouse apartments atop the building are special.
“It’s one of the only places in downtown where you’ll have exclusive access to the rooftop,” Samaan said. “It’s not open to the building. It’s only open to those who are in the two penthouse units.”
Parking and utilities are part of the lease. The units feature granite counter-tops, marble floors, with remodeled bathrooms and kitchens.
Lease rates for the one-bedroom, 1,200-square-foot penthouse are $2,350 a month, and for the two-bedroom penthouse, (1,750 square feet) the lease is $2,750 a month.
“They’re beautiful, absolutely,” Samaan said. “We are getting quite a few inquiries.”
The penthouses will be opened Monday to visits by interested prospective residents.
Lease rates in the rest of the building range from $850 a month for studios to $1,075 a month for two-bedroom units. Utilities are included.
The building is at the southwest corner of North Main and West Monument Avenue.
The structure was in the news in the winter of 2017-18 when Dayton city government ordered residents to vacate the structure after previous owners failed to fix a malfunctioning heating system, making the building unsafe to live in.
By the summer of 2018, Samaan said his new $35,000 boiler system had passed a state inspection, a key milestone in his view.
The building is fully occupied today, well up from a less than 20% occupancy after Samaan became the new owner. There’s a waiting list for those interested in a unit.
The building is found at the location of what historians say was Dayton’s first house and general store, the Newcom Tavern built in 1798. That building served as a trading post and Army headquarters until the 1830s.
The current apartment building was built in 1907.
About the Author
