Jacksonville-based law firm Farah & Farah purchased The Most Worshipful Grand Lodge of Free and Accepted Masons at 220 N. Ocean St. on June 30 for $3 million.
The two-story, 21,098-square-foot Downtown building was constructed in 1965 on 0.32 acre. Property records show it is designated to be used as lodge, union hall or club.
Farah & Farah is headquartered nearby at 10 W. Adams St.
Brothers Eddie and Chuck Farah said they purchased the property primarily for its 66 parking spaces. The law firm owns half of the lot at Main and Monroe streets.
The purchase gives them 116 spaces on that lot.
The firm needs 250 parking spaces in Downtown, Eddie Farah said.
“We are hurting for parking spaces,” he said.
The Masons will continue to lease the building for three years. The Farahs declined to release the terms of the lease.
“We think it is a good investment. It’s a cool building and structurally sound, Eddie Farah said.
The firm has no immediate plans for the building, but are not contemplating tearing it down, he said.
Farah & Farah, a personal injury law firm, was formed in 1979. It has locations in Orange Park, St. Augustine and Jacksonville Beach and in nine other cities in Florida and seven in Georgia, according to its website.
The building has an assessed value of $1,022,934, but because it is operated by a not-for-profit corporation, no taxes have been paid on the structure.