LYNN — Charles Patsios has purchased the historic Masonic Hall building on Market Street for $1.1 million, according to the South Essex Registry of Deeds.
The deal for the four-story, brick building closed on Monday.
In a brief interview, the Swampscott developer said he plans to transform the property into a boutique hotel.
The 23,000-square-foot landmark, owned by the Lynn Masonic Temple Association, is assessed at $560,600, according to The Warren Group.
Built in 1880, the high Victorian Gothic architectural style property is listed on the National Register of Historic Places.
The seller, the Lynn Masonic Temple Association, is comprised of three divisions of Massachusetts Freemasons: Mount Carmel Lodge A.F. and A.M., Golden Fleece Lodge A.F. and A.M., and the chapter.