The fomer home of Studio West 117, which closed in December 2025 after just three years in operation, is up on the auction block soon with a minimum bid of $1 million.
Opening in 2022, the LGBTQ nonprofit founded by Daniel Budish and Betsy Figgie headquartered at the entertainment and restaurant complex on the near west side failed to take hold, eventually falling behind on taxes and millions of dollars of loans.
Which is how we got here: A lawsuit from Truist Bank led to a receiver being appointed, which led to the 25,000-square-foot complex — with its restraurants, gym, offices, and rental space — being put up for sale.
It’s “a one-of-a-kind multi-purpose asset that rarely comes to market — particularly under a receiver-ordered sale,” receiver Mark Abood told Cleveland.com.
The previous owners invested some $10 million across the property, which is basically in turn-key condition.
More details on the auction announcement below.
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