The property that’s home to Filmores Hotel, a downtown Toronto landmark best known for its downstairs strip club, has been sold to a developer for $31.5 million, property records show.

The same developer, Menkes Development, also bought the parking lot next to the building for an additional $20.018 million. The deal closed on Jan. 16.

Filmores has been in operation at 212 Dundas St. E. since 1985. Prior to that, another strip club was operating in the building under the name Stage 212.

The building is a historic one. It was built more than 100 years ago as the Wilton Court Apartments. By 1915, it was the upscale Wilton Court Private Hotel. In 2016, the city listed it as a heritage property, citing its early 20th century Edwardian classical styling.

The number of strip clubs in the city has been on a steady decline. Recent prominent closures include the House of Lancaster, Caddy’s, Jilly’s and Remington’s.

Howard Adams, the president of Filmores and the previous owner of the property, declined to comment.

In 2017, he told the Globe and Mail that he was open to offers and would sell if “somebody convinces me that there’s a better use for the site.”

It’s not yet known what Menkes plans to do with the property, but the neighbourhood, known as the Garden District, has seen a boom in highrise condominium development in recent years.

The city would have to approve any request to alter or demolish the building because of its heritage designation, said Coun. Kristyn Wong-Tam (Ward 13 Toronto Centre).

“These are not easy restrictions to overcome,” Wong-Tam said in an interview.

As for the parking lot, it falls under a heritage conservation district, meaning owners would be limited in height and unless they challenge zoning laws.

She said the city hopes to meet with the developer to ask that it include affordable housing in the building should it be turned into a condo.

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“No one in our neighbourhood would come out to a development meeting and say ‘please give me another luxury hotel,’ ” she said.

Jan. 31, 2020 — Update: This story has been updated from a previously published version to clarify that Filmores was sold for $31.5 million and the parking lot was sold for $20 million. This new version also adds an interview with Coun. Kristyn Wong-Tam (Ward 13 Toronto Centre).

TY Tom Yun is a breaking news reporter, working out of the Star's radio room in Toronto. Follow him on Twitter: @thetomyun

Miriam Lafontaine is a breaking news reporter, working out of the Star's radio room in Toronto. Follow her on Twitter: @mirilafontaine