PHILADELPHIA-The National Museum of Jewish American History has acquired the four-story building at 101 S. Independence Mall to make way for its long-planned new, $135-million home. When the organization began a capital campaign to fund construction of a new museum in 2002, the location was to be at the museum’s current address, which is a block away, and the fund’s goal was $100 million.

However, pressed for space, KYW-TV and its affiliated CBS stations leased space for a larger new headquarters at 1500 Spring Garden St. this spring, opening up the potential for the museum to build in a location within even closer proximity to Independence Hall and the Liberty Bell. John K. Binswanger, chairman of locally based Binswanger, represented the building owner, “which is Stephens Associates, a local family partnership,” he tells The price was $9.5 million, according to Binswanger, and no other broker was involved in the transaction.

An NMAJH spokesman tells that the campaign fund goal is now $135 million, “which includes an endowment for the museum in addition to construction.” An initial donation of $25 million by local philanthropist Sidney Kimmel, founder of Jones Apparel Group, kicked off the campaign, and the spokesman says, “more than $80 million has been raised.”

Meanwhile, because of the new location, the lead architect, the New York City-based Polshek has gone back to the drawing board. Although, final plans are not complete, the spokesman says the building will be between four and five stories high and contain between 80,000 sf and 100,000 sf. Currently, the museum occupies less than 10,000 sf, “so this will be a significant expansion.” In addition to more exhibit area, it will have expanded curatorial room and space for its substantial collection.

KYW will continue to occupy the building until March 2007, while its new quarters are being designed. The museum spokesman says demolition will take about a year, and construction another two, so the museum’s opening is expected to occur in 2010. Congregation Mikveh Israel, which now shares space with the museum, will remain in its current location.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.