DSO Sells Orchestra Place Office Building In Midtown

The Detroit Symphony Orchestra has sold their Midtown office building at Mack and Woodward (specifically, 3553 Woodward).

The five-story structure sold for an undisclosed price, but multiple reports have said that the price is estimated between $19 and $25 million. For some perspective, the annual budget of the orchestra is $29 million.

The buyer is Broder & Sachse, who were the developers behind the new-ish The Scott at Brush Park.

“Broder & Sachse has been heavily invested in this particular neighborhood through our other properties in the area, and this building is terrific real estate in an area we see value and opportunity,” Broder said in a statement. “The potential to do more for the community in this particular stretch of Woodward Avenue will eventually translate into even more enthusiasm for people who live and work in this area, and we’re thrilled at the prospect made possible by our purchase of Orchestra Place.”

Current tenants of the five-story building include the Detroit Medical Center, Harbor Health Plan and Huntington Bank. The building is also home to the University of Michigan Detroit Center.