In 2005, after commencing the development of the Greenpoint waterfront project, Ricardo Pagan re-visited Detroit, Michigan, and found the city ripe for investment. Not long after, Claridge Properties purchased two of Detroit’s most iconic properties, the 38-story Book Tower and 13-story Book Building for $6 Million, in turn putting Claridge Properties on the map in that city and across the country. One of the oldest complexes in the city, the two buildings occupied prestigious addresses and history along Washington Boulevard. Claridge’s vision for the project was to convert the first two floors across both buildings into a retail atrium, with the upper floors of the smaller building and the larger tower to be condominiums. The lower floors of the Book Tower were upgraded as offices. After establishing a new beacon for the city of Detroit, Claridge sold the properties in 2011.