PORTLAND — A historic building at 11 Brown St. in Maine’s most populous city is on track in its conversion to luxury condominiums.
Portland developer Jack Soley paid $950,000 for the turn-of-the-century building in late 2015 as part of his mission to preserve the city’s historic buildings and leverage the condo market. The site will include a ground-floor restaurant, just as the building had until the closure of Margarita’s a year ago.
On May 25, Soley finalized the sale of the basement and first floor to Phelps Craig, owner of the BRGR Bar in Portsmouth, N.H. She plans her second BRGR Bar for the Portland location.
In the meantime, Soley and his nephew Dan Soley been investing approximately $1 million to redevelop the second, third and fourth floors into luxury condominiums — two units on the second floor and one 2,400-square-foot unit each on the third and fourth floors.
Since the 1930s, the top