The asking price for ACME Photo Studio at Regent and King streets is US$10M ($2.06B), the establishment stated yesterday.
In an August 22 news item, Stabroek News had reported that the asking price was $100M. This information had been provided by an employee with the establishment who was not the person authorized for the release of such information. Stabroek New regrets the publication of that figure.
The owners of ACME have advertised the 21,000-square feet property on the Stabroek News website.
Established in 1935 by Ashraf Ali, the entity has grown over the years to the stage where it specialises in non-traditional wedding photography and the storage of photographs on various devices. The business also does photographic restoration and was among the first in the country to introduce passport-sized photographs.
It is currently owned by a third generation of the Ali family and has a staff of more than 50 persons.
