Arts Tower will go condo

Monday, July 10, 2006

Crescent Heights has paid $30 million for the Arts Tower, making it the fourth residential project the Miami-based real estate company has taken on in Center City.

Crescent Heights plans to convert the Arts Tower, a 16-story apartment building at the corner of Juniper and Locust streets, into condominiums. A local partnership going under the name Locust Street Properties was the seller, said Josh Nadel, a broker with Mallin Panchelli Nadel who arranged the transaction.