The building was completed in 1920. It has 66,300 sf on four floors, plus afull basement. The complete property includes the adjacent former Savoyrestaurant and empty courtyard in addition to the building, which is vacantand gutted. The side parcels allow room for expansion.

Thomas Jefferson University Hospital has owned the property for more than adecade and planned to erect a nine-story, above-ground parking facility atthe site. The Washington Square West Civic Association vehemently opposedthe plan. Although the building is zoned for commercial/residential, Studley ismarketing the property's potential for residential conversion, orretail/residential, end uses the association applauds.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Retail