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Prime Redevelopment Site Trades in Center City Philly

Rittenhouse Realty Advisors closed the $24.5-million sale of a prime redevelopment site located in the Rittenhouse Square neighborhood in Philadelphia. Buyer Southern Land Company plans to turn the site at 1620 Sansom St. into a new mixed-use development.

The buyer is planning a $180-million, 28-story residential rental building on the site, which is zoned CMX5, thereby allowing mixed-use development in Center City. It will include 306 units, 32,000 rentable square footage of commercial space and a parking garage with ground-floor retail. The buyer is also currently building The Laurel, a luxury residential building at 1911 Walnut St., a few blocks away.

“Considering the location and the CMX5 zoning, 1620 Sansom St. is one of the best and one of the last great parcels in Rittenhouse Square,” said Rittenhouse managing partner Ken Wellar, who brokered the sale alongside managing partner Corey Lonberger and director Mark Duszak. 

For comments, questions or concerns, please contact Paul Bubny

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Inside The Story

Connect With Rittenhouse’s Wellar, Lonberger and Duszak

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Development
  • ◦Sale/Acquisition
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