Carew Tower, a 49-story mixed-use building located in downtown Cincinnati, was recently sold to an affiliate of New York-based Veles Partners LLC for $18 million. Adjusted for inflation, Carew Tower - which opened in 1930 - would have cost $572 million to build in 2022, according to The Cincinnati Enquirer.
So, why did the Carew Tower, a National Historic Landmark, sell for just $18 million?
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