Headlines: Walnut Street’s Art Deco “Icon” Has Been Sold
One of Philly’s standout examples of Art Deco architecture, the majestic Icon 1616 at 1616 Walnut Street, has been sold for some big time money. According to Natalie Kostelni of the Philadelphia Business Journal, “the $112 million price tag is considered huge at more than $540,000 a unit. The building has 23,000 square feet of fully leased retail space and 160 parking spaces.”
The building was owned by a trio of companies, including Alterra Property Group, Cross Properties and Federal Capital Partners. The buyer, Kostelni says, “is an investor from New York.”
Icon kind of changed the rental game when it reopened in 2014. Not only did it offer luxurious residential and building amenities, but it also partnered with Delos to offer Philly’s first WELL Signature suites program with Vitamin-C infused showerheads, black out curtains, aromatherapy and the Stay Well mobile phone app. (Hey, if it’s good enough for Leo DiCaprio, it’s good enough for us.)
More Headlines:
- Photographing public art and architecture in the EU may soon cost you [Archinect]
- Can Atlantic City Be Saved? [Huffington Post]
- Geriatricification Comes to the Kensington Megalots – Will Speculators Break and Sell? [Philadelinquency]
- ICYMI: Lord Norman Foster Presented Kahn Memorial Award [aweber]
Get at us:
- Send all tips (including fancy Philly area houses like this and this) to property@phillymag.com
- Like Property on Facebook!
- Follow along on the Twitter machine @PropertyPhilly
- Get pin-happy on our fun Pinterest boards Phillyscape and Philly Home
- Don’t forget to use the hashtag #phillyscape on your cool Instagram and Twitter pictures. We might just pick yours to be Property’s next Photo of the Week!
