A new investment could soon make it’s way to downtown Erie.

According to realtor Sherry Bauer, the former downtown Erie Hotel located on 18th and Peach St. is near closing on a sale.

It was originally believed the closing on this property would happen before Christmas, however there were a few delays.

“We’ve had a lot of interest in the property. We’ve probably talked to over 400 interested parties since the time we started marketing the property. It’s very positive and we’ve had a lot of interest and it’s going to have a phenomenal ending,” said Sherry Bauer, broker for Sherry Bauer Real Estate Services.

Bauer will not release any other details regarding the sale at this time.