Center City
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Four Seasons Philadelphia Unveils New $25K-Per-Night Sky Garden Penthouse Suite
Four Seasons Philadelphia at the Comcast Technology Center has unveiled a new collection of rooms on the 45th floor, including a Sky Garden penthouse suite that is priced at $25,000 per night, writes Michael Tanenbaum for PhillyVoice. In addition to the 4,000-square-foot penthouse suite with a private terrace, the Sky Garden features four guest rooms…
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Center City Office Building Heads to Open Market As Foreclosure Process Nears End
The 1700 Market Street office building in Center City is being placed on the market as its yearslong foreclosure process nears its end, writes Paul Schwedelson for the Philadelphia Business Journal. Cushman & Wakefield, the receiver for the Center City building, is responsible for marketing and selling the 32-story property that is currently owned by…
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Center City’s Largest Apartment Tower Goes Up for Sale Again After 4 Years
Center City’s largest apartment tower, on 1500 Locust Street, is back on the market four years after it was last traded, writes Paul Schwedelson for the Philadelphia Business Journal. The 605-unit, 45-story building was acquired by New York real estate firm Fairstead and Minneapolis investment company Castlelake for $233 million back in December 2021. It…
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The Shops at Liberty Place, Center City Retail Space, Go Up for Sale
The Shops at Liberty Place, a retail space within the Liberty Place mixed-use complex in Center City, is now up for sale, writes Paul Schwedelson for the Philadelphia Business Journal. Chicago-based Metropolis Investment Holdings owns the two-level shopping center at 1625 Chestnut Street, as well as the attached One Liberty Place, a 61-story, 1.1 million…
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New York-Based Social Wellness Brand Bathhouse to Expand to Philadelphia
Bathhouse, the New York-based social wellness brand, is preparing to open its first Philadelphia location, writes Emma Dooling for the Philadelphia Business Journal. The facility will be located inside the historic Bellevue Hotel and will bring four pools and four saunas to the South Broad Street building. According to co-founder Travis Talmadge, the new Bathhouse…
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Community Legal Services to Relocate After 30 Years On Chestnut Street
Community Legal Services will be relocating from its longtime home next year as it recently signed a new 13-year lease at a new location, writes Paul Schwedelson for the Philadelphia Business Journal. After having 1424 Chestnut Street as its home for the past 30 years, Community Legal Services will be moving to a new 32,500-square-foot…
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Philadelphia’s Largest and Oldest Investment Bank to Shift Focus to Wealth Management, Stock Broking
Janney Montgomery Scott LLC, the largest and oldest investment bank in Philadelphia, will soon exit this realm in favor of focusing exclusively on its wealth advisory business, writes Joseph DiStefano for The Philadelphia Inquirer. The decision to maneuver against its nearly 200-year history as an investment bank and place its emphasis on stock broking comes…
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New Report Details Who Has Been Moving Into Center City’s New Apartment Buildings
Center City has seen a major influx of new apartments in recent years and a new report breaks down the demographics of the individuals who have been moving into them, writes Molly McVety for PhillyVoice. A recent survey published by the Center City District shows that Philadelphia has been attracting many new residents from other…
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Apartments, Swimming Pool, and Redeveloped Retail Space Planned for Historic Wanamaker Building
TF Cornerstone, the owner of the Wanamaker building, is seeking to transform the historic property into residential space while redesigning the first three floors that previously housed Macy’s to accommodate multiple retail tenants, writes Paul Schwedelson for the Philadelphia Business Journal. The plans for the 114-year-old building, which spans an entire block just east of…
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Major $27M Renovation, Expansion Planned for College of Physicians and Mütter Museum
The College of Physicians of Philadelphia, along with the popular Mütter Museum it operates, is preparing for a major $27 million expansion and renovation, writes Rosa Cartagena for The Philadelphia Inquirer. The campus at 22nd and Chestnut Streets will receive a new accessible entrance, expanded galleries, educational along with event spaces, a renovated gift shop,…
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Mayor Parker Launches New Task Force to Revitalize, Renew Struggling Market East Corridor
Mayor Cherelle Parker and her administration have announced the formation of the Market East Advisory Group, tasked with renewing Market East, write Joe Brandt and Natasha Brown for CBS News Philadelphia. The new task force is a partnership between Comcast, the Philadelphia 76ers, the Fashion District’s owner Macerich, Brandywine Realty Trust, Thomas Jefferson University, Visit…
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Ten Penn Center Sold in $30M Deal, Conversion Project to Follow
The sale of Ten Penn Center is now complete, closing a $30 million deal, writes Paul Schwedelson for the Philadelphia Business Journal. PMC Property Group acquired the 27-story, Center City building from a partnership between two firms, Sterling Equities in New York and Greenville Partners based in West Chester. This sale close comes more than…
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Why Did Jordan Brand Choose Philadelphia for First World of Flight Store in the U.S.?
Earlier this month, Philadelphia joined Beijing, Milan, Seoul, and Tokyo as the only cities with a Jordan Brand World of Flight location, writes Ian Servantes for WWD. Each of the global cities are among the most shoppable in the world, and Jordan Brand is speaking out on why it chose Philadelphia as the first U.S.…
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Michelin Guide Awards This Philadelphia Hotel Two-Key Designation
The Michelin Guide has awarded the Four Seasons Hotel Philadelphia at the Comcast Center a two-key designation, writes Emma Dooling for the Philadelphia Business Journal. The 2025 key designations, announced on Wednesday, are equivalent to Michelin’s coveted star ratings that are awarded to restaurants around the world. The key ratings system was launched last year.…
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Stateside Vodka Chooses Center City to Relocate Corporate Headquarters
Stateside Vodka, the maker of Surfside canned cocktails, has chosen to relocate its corporate headquarters to Center City, writes Paul Schwedelson for the Philadelphia Business Journal. Stateside Vodka has signed a new 11-year lease at 1100 Ludlow Street, where it will be taking up 34,200 square feet of the building across the fifth and sixth…
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WSJ: Comcast Expands and Reaches New Agreements With Amazon to Share Streaming Content Across Platforms
Philadelphia-based Comcast has reached new or expanded existing distribution agreements with Amazon to make their streaming content available on each other’s platforms, writes Dean Seal for The Wall Street Journal. Comcast customers will have Prime Video content available on NBCUniversal’s Xfinity X1 devices, while Amazon users will have access to NBCUniversal’s Peacock streaming app subscriptions…
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Philadelphia’s Largest Office Property to Go Up For Sale, Conversion Likely to Follow
Centre Square, the largest office property in Philadelphia, will soon go up for sale two years after it was foreclosed, writes Noah Zucker for BisNow. After the building at 1500 Market Street was foreclosed in the aftermath of the crowdfunding scandal involving Nightingale Properties CEO Elie Schwartz, CBRE became the court-appointed owner. According to Green…
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Bob Casey, Longtime Pennsylvania Senator, Gains New Roles at Familiar Philly Law Firm, Hometown University
Former U.S. Senator Bob Casey has taken on two new gigs nine months after losing his bid for a fourth term, writes Molly McVety for PhillyVoice. Effective September 1, Casey will join Philadelphia-based law firm Dilworth Paxson as a counsel and member of its corporate and business practice group. The news comes after it was…
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