Korman Communities buys into the Benjamin Franklin House

Friday, June 3, 2011

Korman Communities has taken an ownership stake in the Benjamin Franklin House, a landmark apartment building along Chestnut Street near Philadelphia’s Old City historic area.

The Plymouth Meeting apartment owner declined to disclose details of the transaction other than it will take over the management of the building and is figuring out what to do with the property. Korman bought it from a Los Angeles-based partnership that also oversaw the management of the building at 834 Chestnut St. With the deal just wrapped up, it’s still too early for Korman to divulge what it plans to do with the property.