PANAMA CITY, Fla. (WMBB) — A Historic Downtown Panama City building that became an eyesore after Hurricane Michael is finally sold.

The Panama City Grammar School now has a new owner.

Kevin Wattenbarger and Associates assisted the First Presbyterian Church of Panama City and sold the property.

The building was originally built in 1914 as Panama City High School. It was the first red-brick school house in the area and then it became the Panama City Grammar School in 1926.

The grammar school was sold in 1965 to Wallace Memorial Presbyterian church and was still being used as an educational building until it was hit by Hurricane Michael in 2018.

The new owners said they want to preserve the history of the historical building and convert it into the first large-scale loft-style apartments in historic downtown Panama City.