April 18, 2016

Price falls for historic property in Astoria, Ore.

ASTORIA, Ore. — The M&N Building, one of Mary Louise Flavel's two remaining properties in downtown Astoria, has been listed by Pete Anderson Realty for a marked-down $149,900.

The building, at the corner of Ninth and Commercial streets, had been up for sealed-bid auction with Realty Marketing/Northwest, but none of the offers met the minimum reserve price of $180,000. The property had previously been advertised at $324,400.

The structure named for Mary and Nellie Flavel was built in 1924 and includes more than 8,000 square feet spread out between five storefronts and an equally sized basement.

During a walkthrough in 2002, historic buildings consultant John Goodenberger said the building would need new steel I-beams, pilings with a wider footing to buttress the sinking foundation and work to reattach the cracked brick facade. He estimated back then at least $75,000 was needed to make the fixes.

Caroline Evans, Flavel's conservator, did not respond to a request for comment.

Last year, Flavel, the granddaughter of Capt. George C. Flavel, sold her family's mansion on the corner of 15th Street and Franklin Avenue to Greg Newenhof, the co-owner of City Lumber, for $221,901.

She has an agreement with the city on a timeline to sell the M&N Building and either sell or improve property on the south side of Commercial Street. In exchange, the city agreed not to enforce fines on the derelict properties.

“We continue to work with Caroline,” said Kevin Cronin, Astoria's community development director. “We are both rowing in the same direction.”

Cronin would not give a deadline for Flavel to sell the M&N Building, but he said she intends to invest the proceeds from the sale into the other building she owns across Commercial Street.