Pair of properties change hands

Friday, May 20, 2011

Two properties in the heart of Center City’s retail corridor have traded even though the frequency of such sales are few and far between.

Pearl Properties, a Philadelphia real estate investor and developer, bought 1510-12 Chestnut St. for $4.2 million from a local partnership going under the name 111 Spring Garden Associates. In the second transaction, Allan Domb, better known as a Philadelphia condominium developer, bought what is referred to as the Diesel building at 1507 Walnut St. for the retail tenant that occupies its space, for $4.25 million. Goldman Properties sold the Walnut Street building.