Two historic downtown Hilo buildings sold earlier this month for a collective $4 million, according to the county’s Real Property Tax Office.
Two historic downtown Hilo buildings sold earlier this month for a collective $4 million, according to the county’s Real Property Tax Office.
F. Koehnen Ltd., an 87-year-old family business currently headed by longtime Hilo businessman Fred J. Koehnen, sold on July 1 the 106-year-old Koehnen Building along with two adjacent properties on the mauka side jointly referred to as Koehnen’s Alley.
Both properties were sold to Giuseppe “Joe” Mamone of G.E.K. Mamone &Sons LLC.
The sale was self-financed and F. Koehnen Ltd. will remain in existence until the mortgage is paid off.
Koehnen, now 92, previously told the Tribune-Herald the company decided to sell because there were no family members interested in continuing the business.
Koehnen’s family set roots in Hilo more than 100 years ago. It closed its three-generation retail store, Koehnen’s Interiors, in 2012.
Mamone is a Big Island native who has leased space in one of the properties to operate his custom flooring business. He said previously he doesn’t plan to make any big changes to either property in the immediate future.