Kolacny Music’s 7,800-square-foot building at 1900 S. Broadway sold on Aug. 15 for $1.5 million to 1900 SB LLC, according to public records.
The buyer also paid $650,000 the same day for the duplex behind the store, at 26-28 E. Jewell Ave., records show. The business had used the space for music lessons.
State records show the purchasing entity was formed by Paul Yaft, whose LinkedIn profile identifies him as chief operations officer of a real estate firm called Alchemy Equity Group. Alchemy also owns the 1936 and 1938 S. Broadway properties just down the block, records show. Yaft and lawyer Doug Norberg also own the former theater next to Kolacny at 1912 S. Broadway, where neighbors pushed back against loud concerts last year.The seller in both deals was siblings David and Donna Kolacny. Their grandfather William started the business in 1930.
The store that sells, rents and repairs band and orchestra instruments announced in the summer that it expected to close by the end of this month.
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