$7 million sale of the Lincoln

Monday, March 27, 2006

Mallin Panchelli Nadel arranged the $7 million sale of the Lincoln, a 46-unit apartment building at 1220 Locust St., Center City, which will be marketed as condominiums by the new owner, Bhumi Real Estate of Philadelphia. The building was originally converted using historical tax credits from a hotel into apartments by the seller, a local family going under the name 1222 Locust St. Associates, in the 1980s. Mallin Panchelli was also involved in the sale of upper floors at 1530 Chestnut St., which Grasso Holdings is converting the condos.