The building at Cass and Peterboro sold earlier this month for an undisclosed price. Plans for the building, which houses art studios and office space, are not known. A representative from Sterling Group could not immediately be reached for comment Tuesday.
Landy said he purchased the former Burton School building on land contract from Detroit Public Schools in 2009. He did not immediately have the current occupancy rate available.
Landy is the developer behind the conversion of the James Scott Mansion on Peterboro into apartments and has long been active in Detroit's development community.
Sterling Group, run by Gary Torgow, acquired the Ford Building on Griswold Street downtown two months ago. The company has been ramping up its acquisition activity in the last couple of years, including along the Detroit riverfront.
Farmington Hills-based Friedman Integrated Real Estate Solutions LLC represented Sterling Group in the deal, while the Southfield office of Colliers International Inc. represented Landy.
Landy and a broker involved in the deal declined to disclose the purchase price.
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