A door of a building in downtown Bangor.
A developer group bought the historic Exchange building at 27 State Street in Bangor on May 31, and has asked the 20-odd businesses there to relocate. Credit: Lia Russell / BDN

About 20 downtown Bangor businesses have been told to leave their 27 State St. building after a New York real estate development group bought the property and announced its intent to renovate it.

The group, led by New York-based developer Dash Davidson, bought the historic downtown Bangor building last week for $975,000, according to property records.

In a letter sent to tenants on Friday informing them of the sale, the company said it “intends to fully renovate the entire building in accordance with a historic rehabilitation. To accomplish this ambitious renovation, 27 State will need to first clear the building of all existing tenants.”

Davidson did not respond to a request for comment.

Tenants have until July 31 to relocate. The building houses law offices, artists’ studios, therapy offices and the Bangor office of the progressive nonprofit Maine People’s Alliance.

A board in the lobby listed around 20 businesses that rented space in the building.

Four tenants confirmed they had received letters asking them to move but declined to comment. Several others didn’t respond to requests for comment.

Some of them have been there for more than a decade, a fact acknowledged in the letter to tenants.

“If you need additional time to relocate, please let us know by June 30,” the letter said.

The development group said it would allow tenants to remain in the building until Aug. 31 if they had trouble finding new spaces to rent.

The building was assessed at $830,600 last year, according to city property records.

Davidson’s group also owns a historic building at 2 Hammond St., which houses the Bangor Chamber of Commerce, and the former Bangor Hydro building at 33 State St.

The group has purchased the buildings over the past two years and recently completed renovations on 2 Hammond St. that resulted in eight new high-end apartments.

Lia Russell

Lia Russell is a reporter on the city desk for the Bangor Daily News. Send tips to LRussell@bangordailynews.com.

Emily Burnham

Emily Burnham is a Maine native and proud Bangorian, covering business, the arts, restaurants and the culture and history of the Bangor region.