PHILADELPHIA — Society Hill Furniture, which spent the last 45 years as a mainstay on Chestnut Street in Center City, has closed and the owner has sold the building.

The Schaffers, a Philadelphia family, bought 1031-33 Chestnut St. in 1963 and operated its well-known furniture store from the building throughout the last four decades, witnessing the changes along Chestnut Street and Philadelphia. Known for its variety of furniture, ranging from the kitschy to basic, Society Hill Furniture invoked the name of the charming downtown neighborhood though it was actually located a few blocks away.