PHILADELPHIA-The Philadelphia Inquirer reported that Eric Blumenfeld has purchased the Divine Lorraine Hotel in Philadelphia with plans to convert the property into apartments. The newspaper stated that the developer was the only bidder for the building at a sheriff's sale.
Blumenfeld purchased the hotel a decade ago, but sold it out after he was preoccupied with another project. The proposed $43-million project will include 126 rental apartments. The ground floor will have food outlets or restaurants. For the full story, go to Philadelphia Business Journal .
GlobeSt.com News Hub is your link to relevant real estate and business stories from other local, regional and national publications.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.
