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Walker & Dunlop brokered the transaction for the 180-unit property, which is capturing some of the highest rents in the state, for Bluerock.

The two locations add a combined 59,262 square feet of co-working commercial space to CGI Merchant Group's The Nexus Workspaces portfolio.

The Project Management Group of the real estate advisory firm is overseeing the $317 million upgrade of the historic building at 476 Fifth Ave.

“We continue to see foreign capital buying core deals in Center City, Philadelphia,” says Ken Wellar, managing partner at Rittenhouse Realty Advisors.

"1400 West Monroe is a response to the demand for condos in the neighborhood at a competitive price point,” says David Wolf, president of ON Collaborative by Coldwell Banker.

Matt Nyren, Ubiquity president and CEO, says northeastern Pennsylvania was a perfect location for the New York-based company to locate its newest call center.

The facility, which is approximately 85% occupied, offers climate-controlled, non-climate, and parking units.

The sale price more than likely is north of $100 million since CrossHarbour acquired the property in 2016 for $101 million and since then undertook a multi-million-dollar capital improvement plan at the hotel that was completed in 2017.