WASHINGTON, DC-In a joint venture with Cambridge Holdings Inc. of Herndon, VA the Bernstein Companies of Washington, DC has acquired the 456,500-sf Public Ledger Building in the heart of Philadelphia’s historic district, Old City. The Bernstein Cos.’ Consortium Capital Fund provided equity funding for the $31-million purchase from MassMutual Life Insurance Co., which has owned the property since 1970. This is Bernstein’s first Philadelphia transaction.

The building, at 6th and Chestnut Streets across from Independence Hall, is 92% leased to foreign consulates, law firms, insurance companies, nonprofits, the Federal government and the Downtown Club, among others.

The Public Ledger Building is a neo-Georgian structure built in 1927 by legendary publisher Cyrus H. K. Curtis as his offices and residence. Curtis spared no expense in executing architect Horace Trumbauer’s design, providing vaulted and decorated ceilings, wide marble hallways, elegant hand-carved moldings, and more. The building has been extensively renovated during the past 20 years and provided with updated climate controls, elevators and security systems while maintaining its design integrity.

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