COLUMBUS, Ohio (WCMH) — The Downtown office tower known as the KeyBank Building is heading to auction next month, the latest chapter for a property that has faced foreclosure proceedings, tenant departures and mounting maintenance complaints in recent years.

An online listing by Apex Commercial Exchange shows the 21-story building at 88 E. Broad St. is scheduled to be auctioned beginning April 14 and concluding two days later, with a starting bid of $1 million.

The property, built in 1964 and renovated in 1986, contains 256,720 square feet of office space on a 0.98-acre Columbus parcel, according to the listing. It includes 92 parking spaces through an adjacent surface lot at 72 E. Broad St. and valet-supported parking. The building is currently about 30% occupied.

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“Strategically positioned in the heart of Downtown Columbus, the KeyBank Building benefits from immediate access to major transportation corridors, public transit, and the city’s central business district,” the listing states. Watch a previous NBC4 report on the KeyBank Building in the video player above.

The offering follows a foreclosure lawsuit filed in Franklin County Common Pleas Court in 2024 involving the building’s ownership.

Court records show the building’s owner, New York-based Baruch Broad Street LLC, borrowed $11.8 million to purchase the tower in 2022, but later fell behind on payments. The lender filed a lawsuit seeking more than $9.3 million and asked a judge to take control of the property while the case moved forward.

A judge approved that request and appointed a local attorney to manage the building and oversee day-to-day operations during the foreclosure process.

The tower has struggled to keep tenants in recent years. In April 2024, the owner of OH Pizza and Brew announced plans to relocate, describing conditions in the building as a “nightmare” after the change in ownership. The Ohio’s auditor’s office also left the building, citing problems with heating and cooling, water leaks and other maintenance concerns.

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KeyBank, with prominent branding on the ground floor, also confirmed at the time that it was looking to partially relocate. A communications consultant said that the company would vacate its office space on the second and seventh floors, while renewing a lease for a branch location on the first floor.

In addition, court records from that time show disputes over unpaid maintenance and repair work, as contractors claimed they were not paid for work performed on the building.

Baruch Broad Street purchased the tower in January 2022 for more than $12 million, according to Franklin County auditor’s office records. If the property sells near its $1 million opening bid, the price would represent a steep discount from what it last sold for. The final sale price will be determined through the online auction process.

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