Building sold in flourishing Spring Arts neighborhood

Wednesday, December 21, 2016
The building at 915 Spring Garden St. in Philadelphia had been an enclave of artist studios. (MPN Realty)

MPN Realty's Ken Mallin and Veronica Blum arranged the sale of the 5-story, 72,000-square-foot former Reading Railroad building at 915 Spring Garden St. in Philadelphia, according to the Philadelphia Business Journal. The building has been vacant since September 2015 when a fire broke out and the Philadelphia Department of Licenses & Inspection ordered the premises vacated.

The property, sold for $6.5 million to an undisclosed local partnership from Pintzuk Brown Realty Group Inc. of Jenkintown, Pa., was highly desirable because it’s one of the last available large parcels in the Spring Arts neighborhood, which is undergoing a renaissance. 

“We had over 20 offers and it sold for close to the asking price,” said Mallin. The asking price was $7 million.