Bearing the name AmTrust Financial, 800 Superior was among the early risers on Downtown Cleveland’s office tower canyon of East 9th Street that developed from the 1960s to the 1980s (Google). CLICK IMAGES TO ENLARGE THEM.
Also bought Huntington, Statler garages
An affiliate of the Kassouf family is reportedly buying the 800 Superior office tower and its connected parking garage at its namesake address in Downtown Cleveland. That makes the third downtown property with a decayed garage in as many years that Kassouf has checked off its shopping list.
While the sale price in the pending acquisition of the 23-story 800 Superior and its attached garage hasn’t been disclosed, the amount is expected to be a bargain given the state of the office market in general and in Downtown Cleveland in particular.
Three sources who spoke on the condition of anonymity confirmed to NEOtrans that the property is under a purchase agreement and that Kassouf is the buyer. The deal is expected to close next month.
The 587,118-square-foot office tower at 800 Superior Ave. and its 328-space garage at 735 Vincent Ave. were built in 1969 by Jacobs Real Estate Services for Central National Bank’s headquarters. It now bears the name of its largest tenant, AmTrust Financial Services whose lease is due to expire at the end of this year.
But the sources said AmTrust may keep at least a regional office presence in the tower. AmTrust has its legal headquarters in New York City to be in the nation’s financial center, but its operational headquarters and more than 600 employees are based at 800 Superior Ave. Many of them work remotely, however.
Following the receipt of complaints, the city briefly closed the garage for 800 Superior in 2024. After an inspection in 2025, the city Building Department declared it safe with a conditional repair and maintenance program (NEOtrans).
AmTrust told NEOtrans in recent communications that it is committed to keeping its offices in Greater Cleveland but declined to say where. AmTrust spokesperson Chaya Cooperberg is out of town and unavailable for comment until after April 10.
The office building was 77 percent leased in 2024 when it was listed for sale by owner Allstate Corp. of suburban Chicago and its real estate broker CBRE in 2024. It is possible that the building may remain predominantly as an office property and that Kassouf’s purchase was a value buy.
CBRE said in its marketing materials that market guidance suggests a fair price for the property is about $15 million. It was appraised by the county for taxes last year at $19.6 million — a $10 million drop from 2022. But in 2011 the building was nearly vacant when Allstate acquired it and the associated parking garage for $7.46 million.
The property is losing its second-largest tenant, National General Insurance of Charlotte whose lease also expires at the end of this year. It is not renewing its lease in any form. National General is owned by Allstate.
CBRE Vice President Jamie Dunford, 800 Superior’s listing agent, did not immediately respond to an e-mail from NEOtrans seeking confirmation of the pending deal.
While AmTrust Financial Services’ offices may remain at 800 Superior, National General Insurance won’t. Both tenants’ leases expire at the end of the year with National General’s parent Allstate selling the building (CBRE Cleveland).
NEOtrans sent two text messages to Elias Kassouf seeking more information but didn’t get a reply prior to publication of this article. Kassouf is vice president of Erieview Developer LCC.
That is an ownership group led by Kassouf Development Corp. which is redeveloping the 40-story Erieview Tower, 1301 E 9th St., for $217 million. The 62-year-old office tower is being repurposed with apartments, luxury hotel, rooftop restaurant and updated offices.
Word of 800 Superior’s pending purchase spread following corporate principal James Kassouf reportedly announcing it at a recent meeting of downtown parking lot owners. Kassouf is a longtime downtown parking lot owner.
The garage for 800 Superior was briefly closed by the city in 2024 in response to complaints about its condition. It was reopened later that year and, after an inspection in 2025, the city Building Department declared it “Safe with repair and maintenance program.” Yet Phoenix Coffee departed its ground-floor space for 776 Euclid Ave.
Reportedly, MM Properties of Houston had previously expressed interest in buying 800 Superior. It wanted to demolish the 267,260-square-foot parking garage for future development. That garage occupies just over half of an acre. But the downtown residential market has also softened recently.
Lobby of 800 Superior offers a modern, spacious introduction to visitors of the 57-year-old building (CBRE Cleveland).
Kassouf’s broker is CRESCO Real Estate. Its principal Rico Pietro said he had no comment on the pending deal for 800 Superior. CRESCO also represented Kassouf in the off-market acquisition of the former Huntington Garage at 999 Chester Ave. in Downtown Cleveland.
That 61-year-old, 1,400-space garage, which is connected by an underground walkway to the troubled 925 Euclid/Centennial building, sold to Kassouf’s Chester & E. 9th Garage LLC for $7 million in early January. The prior owner, PAL PV Huntington, LLC, bought it in 2015 for $16.25 million.
In its Facebook post in February about that deal, CRESCO referenced other recent and pending deals, noting that “This marks our second parking garage transaction in the past 12 months, with additional parking assets currently under contract.”
The prior parking garage transaction by Kassouf that CRESCO referenced was the 2024 acquisition of the condemned Statler Garage. While it has a vehicle entrance on Euclid Avenue, its address is on the alley behind the garage, 1111 Hickory Ct.
Earlier this year, Kassouf bought another downtown property with a troubled garage — the 1,400-space former Huntington Garage at right on Chester Avenue. Two years ago, Kassouf acquired the Statler Garage off Euclid Avenue (Google).
Kassouf’s property-specific affiliate for the Statler Garage is Euclid 1111 LLC. It bought the 61-year-old garage and a small piece of surface parking land on Hickory from Euclid Avenue Garage LLC for $1.15 million, according to county property records.
The Statler Garage, as one might expect, is connected to the Statler Apartments, 1127 Euclid. Like 925 Euclid, the Statler was owned by Millennia Companies and, after also falling into foreclosure, is in receivership.
Pietro said the aging parking garages that Kassouf has bought are not only a value buy but also an opportunity, if the city recognizes that the renovation and redevelopment of downtown parking garages can boost all of downtown.
“I would challenge the city to support activating these garages that have fallen into disrepair and find ways to economically support all garages,” Pietro said. “It’s part of an acute issue which is the hemorrhaging of office tenants downtown.”
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