1429 Walnut Going to Auction With Starting Bid Under $1 Million

Rockwood Real Estate Advisors is representing the seller of 15 of the 16 floors of 1429 Walnut Street. (The first floor, where A/X Armani Exchange lives, isn’t part of the deal.) The starting auction bid is $950,000 for the 71,754 square feet. As of March 1, 42 percent of that space was occupied, including Tackett Company, Adams Renzi & Pearce Law Firm and Precision Realty Group.

Built in 1915, 1429 Walnut is variously known as the Publicker Building or the Longacre Hotel. It was originally designed by Frederick Webber, though in 1939, the firm of Magaziner and Eberhard was called upon to do some renovations to the eighth and ninth floors, providing a brush with architectural fame.

Starting Bid: $950,000
Bid Deposit Amount: $25,000
Buyer’s Premium: 5% of Winning Bid Amount (a minimum may apply).
Auction Start Time/Date: 04/23/2013 09:00 AM PST
1429 Walnut Street [auction.com]