PHILADELPHIA — Allan Domb has added to his Center City retail holdings and bought for $17 million the commercial condominiums at 10 Rittenhouse Square that contain the Barney’s clothing store and Serafina’s, a restaurant.
The acquisition enhances Domb’s retail position on Rittenhouse Square and along the city’s two main retail corridors where he already owns a number of premier properties.
“These are two retail locations at Main and Main,” said Ken Mallin of Mallin Panchelli Nadel, who represented Domb in his acquisition of the Barney’s and Serafina properties. Jim Galbally, an investment broker with Jones Lang LaSalle, represented the seller, IStar Financial Inc.
IStar owns 10 Rittenhouse and at the end of last year decided to put the two commercial spaces on the market. Barney’s is at 126-132 S. 18th St. and it occupies two floors totaling 9,707 square feet. Its lease runs until August 2024. Serafina’s address is 130 S. 18th St. and sits in 6,293 square feet. The restaurant is on the hook for the lease until June 2026. The properties were sold as a package, and interest in them ran high.
Natalie Kostelni, Reporter
Philadelphia Business Journal