by Natalie Kostelni-Staff Writer, Philadelphia Business Journal
Less than a year after Bart Blatstein completed a roughly $70 million conversion of a former state office building at Broad and Callowhill streets in Philadelphia, he has put the property up for sale.
“I have received lot of inquires and the market is very strong,” Blatstein said. “It’s a great product.”
Blatstein’s Tower Investments Inc. converted the 300,000-square-foot office building that was constructed in 1958 into 204 apartments with a fitness facility, and a lounge area on the 18th floor that was once used as the governor’s office.
The structure was totally gutted and the project completed in 11 months. H2L2 was the architect and the building was designated historical, allowing the developer to get tax credits to help offset some of the construction costs. It’s called Tower Place and opened at the beginning of the year. It is about 75 percent occupied.
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