Broker to be 16th owner of St. Charles
In its 142 years, the St. Charles Hotel has operated under six names and 15 different owners. Real estate broker Jenny Lopiccolo recently became owner number 16.
Bob McFadden, its previous owner, said the sale on the three-story, 26-room hotel finalized Friday. He sold it for $985,000.
“I think she’ll make it spectacular,” McFadden said of the new owner.
He said the Lopiccolos are strong buyers and they may “fix it up into apartments, condos, time-shares or a bed-and-breakfast.” The Lopiccolos were not available for comment.
McFadden bought the hotel about 10 years ago with strong aspirations. McFadden said he bought it for $750,000 and put about $250,000 into renovations.
“I turned it into a pretty decent hotel in the beginning. But the restaurant was so loud down below that it drove the clientele out of my hotel.”
He said the hotel, at Third and Carson streets, has had a steady stream of weekly and monthly renters since he converted it to weeklies about three years ago. The leases for these tenants, and the first-floor restaurant, were handed over to the new owner. A Pilates studio is also located at the back of the building, he said.
Several restaurants have occupied the first floor of the St. Charles through the years, including Joe Garlic’s and Cafe Del Rio. Devincenzi’s, an Italian restaurant, opened there in summer 2003.
McFadden said he believes downtown revitalization is key to the hotel’s success.
“I don’t have a strong interest in it anymore. I let it go, and I’m real happy about Jenny and Mark Lopiccolo buying it.”
The St. Charles Hotel was built in 1862, according to records in the Carson City Assessor’s Office, making it the state’s oldest operating hotel.
McFadden put the hotel on the market in 2001. Then he was asking for $1.2 million.
Contact reporter Becky Bosshart at email@example.com or 881-1212.