MPN Sells 19oo Chestnut For $2.78 million

Monday, October 3, 2005

Moreland Development sold 1900 Chestnut St., a three-story, 7,100-square-foot building in Center City that it bought 14 months ago with the intention of putting in a Walgreens pharmacy. When neighborhood opposition mounted, Moreland decided drop its plans and sell.

"We got an offer we couldn't refuse," said Eric S. Seidman of Moreland.

Moreland bought the building for $2 million and sold it to Kenneth Gross Investment Group for $2.78 million.