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KYW Building Gives Way to $135M Museum

PHILADELPHIA-The National Museum of Jewish American History pays $9.5 million for the former KYW headquarters at 101 S. Independence Mall.

By Marita Thomas | Updated on June 28, 2006

PHILADELPHIA-The National Museum of Jewish American History has acquired the four-story building at 101 S. Independence Mall to make way for its long-planned new, $135-million home. When the organization began a capital campaign to fund construction of a new museum in 2002, the location was to be at the museum’s current address, which is a block away, and the fund’s goal was $100 million.

However, pressed for space, KYW-TV and its affiliated CBS stations leased space for a larger new headquarters at 1500 Spring Garden St. this spring, opening up the potential for the museum to build in a location within even closer proximity to Independence Hall and the Liberty Bell. John K. Binswanger, chairman of locally based Binswanger, represented the building owner, “which is Stephens Associates, a local family partnership,” he tells GlobeSt.com. The price was $9.5 million, according to Binswanger, and no other broker was involved in the transaction.

An NMAJH spokesman tells GlobeSt.com that the campaign fund goal is now $135 million, “which includes an endowment for the museum in addition to construction.” An initial donation of $25 million by local philanthropist Sidney Kimmel, founder of Jones Apparel Group, kicked off the campaign, and the spokesman says, “more than $80 million has been raised.”

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