Acquired off market in 2024, the vacant former Pierce College classrooms and administrative offices will be converted into class A apartments utilizing federal historic tax credits.
The project is in the Rittenhouse Square, the most sought-after, upscale neighborhood in the city. Located between Market and Lombard Streets from Broad to 24th streets, Rittenhouse Square boasts the highest per square foot rental rates in the city. The neighborhood is occupied by high-end residential, luxury hotels, upmarket retail, and world-renowned restaurants. This highly coveted location offers an energetic nightlife and an extensive array of art and culture providing entertainment options, all just steps from 1420 Pine St. Rittenhouse Square is indisputably a main economic factor in Philadelphia’s growth, providing one of the most amenitized and coveted neighborhoods in the city. 1420 Pine Street can be considered the city’s residential, workplace, restaurant/retail, and cultural entertainment epicenter. This building offers a tremendous investment opportunity in one of the city’s best locations.
