Atlanta’s oldest skyscraper is under contract to be transformed into a 40-room luxury boutique hotel. The 110-year-old, 11-story, 44,000-square-foot Flatiron Building at 84 Peachtree St. is one of several downtown landmarks eyed to become boutique hotels.

Historic Urban Equities, a partnership formed between Jim Cumming and Canadian investors, has owned the historic building for about 20 years, according to Ken Sauer, chief financial officer of Trillium Management Inc., owner of Historic Urban Equities.

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