PHILADELPHIA, PA—New York realestate investment firm Nightingale Properties hasadded its fourth Center City property with the acquisition fromArden Group of 1635 MarketStreet, a 19 story, 286,574 sq. ft. building that wasoriginally developed as a regional headquarters forIBM.
Nightingale, founded in 2005 by ElieSchwartz and Simon Singer, alreadyowns 1835 Market Street, 1700 MarketStreet, and 1500 Spring GardenStreet. The buy makes it one of the largestcommercial property owners in the city.
Nightingale's CEO, ElieSchwartz, has committed to $5 million in majorrenovations, to begin immediately, including renovating the facade,the main lobby, the concourse, the elevators, including cab, liftsystems, and controls, the common corridors, and thebathrooms.
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