Historic jewel on Walnut could draw $35M

Friday, May 30, 2014

The historic townhouse that houses the retailer Anthropologie at 18th and Walnut Streets is for sale and possibly weeks away from settling for around $35 million, which would deliver a staggering profit to Robert Ambrosi and the partners with whom he bought the marquee property for $1 million in 1995.

The asking price for the four-story, 23,600-square-foot house, built in 1898, was about $40 million when it hit the market late this summer. Brokers for Philadelphia Urban Investors L.P., of which Ambrosi is operating partner, said Monday that there was interest from "several" potential buyers, but did not say who when contacted about the property's rumored sale.

"We're still talking to several investors, and we should finalize a deal soon," said James Galbally of Jones Lang LaSalle. Galbally is marketing 1801 Walnut jointly with Ken Mallin of Mallin Panchelli Nadel Realty Inc.