A Suffolk developer is purchasing one of the oldest and largest buildings in Suffolk’s historic downtown.

Mickey Garcia, owner of Garcia Development Inc., has a contract on the 20,000-square-foot Damiani Building, located at the intersection of North Main and West Washington streets. Garcia and downtown entrepreneur Andy Damiani expect to seal the deal within the next week.

The three-story building in the 100 block of West Washington – known now as the Damiani Building – bustled with activity during the 1950s and 1960s.

Over the years, it served as home to several now-defunct downtown business landmarks – The Economy Shoppe, Bill’s Luncheonette, McClelland’s 5&10, the House of Discount Fashion.

People lived in apartments upstairs, many of which had balconies overlooking the streets of downtown, Damiani recalled.

Garcia declined to reveal the sales price or plans for the building.

But Damiani, who bought the building in 1997, expects good things ahead for the building.

&uot;I think he will do a good job with it,&uot; Damiani said.

Garcia also has contracts on four other commercial properties in downtown Suffolk.