A large mixed-use building on the corner of 23rd and Walnut–smack dab between University City and Rittenhouse Square–has traded hands. And it’s not without its intrigue.
Natalie Kostelni of the Philadelphia Business Journal reports that 2216-2222 Walnut was “was bought on behalf of an undisclosed investor who was represented in the transaction by Post Brothers, a Philadelphia real estate apartment company.” The deal totals $15.7 million and includes two buildings, the 99-unit Roosevelt apartment complex with ground floor retail (formerly Roosevelt’s bar) and a smaller, four-story building at 2216 Walnut.
Matt Pestronk of Post Brothers told Kostelni 2216 Walnut will be resold. Given the boom of both University City and strong market in Rittenhouse, renovated apartments at the Roosevelt (or whatever it will be called) could be in high demand. Keep an eye on this corner.
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