PHILADELPHIA-Locally-based attorney Thomas R. Kline has acquired the former Beneficial Savings Bank building here for $4 million.
Kline intends to restore the vacant 15,000-square-foot building to “its former grandeur and [have it] serve as a landmark once again,” according to the Philadelphia Business Journal.
The building, originally constructed about 80 years ago for Beneficial Bank, has been vacant since 2005 when the bank relocated its headquarters to the Penn Mutual building.
“I know the Beneficial Bank building and the neighborhood well,” Kline states. “It was never repurposed, so the original architecture is in its pure form with its 50-foot ceilings on the first floor and even the fifth floor has an elegantly paneled conference room (and even the original conference room table) intact.” See story in the Philadelphia Business Journal.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
