Center City's 1760 Market St. office tower sells for $31.5M
The purchase is the largest Philadelphia acquisition to date for attorney and property investor Victor F. Keen, who is active in New York's real estate markets.
The 1760 Market St. office tower in Center City has been acquired by Philadelphia-based attorney and property investor Victor F. Keen.
Keen paid $31.5 million for the 14-story, 126,689-square-foot office building, a spokesman for law firm Duane Morris LLP, with which Keen is affiliated, said in an email Wednesday.
Keen bought the property from a joint venture between Alterra Property Group and Stockton Real Estate Advisors. The Philadelphia-based firms had made improvements to the property's lobby and other common areas amid other upgrades after acquiring it in 2015 for $20.15 million, according to CoStar Group, a market tracker.
Alterra and Stockton were represented in the sale to Keen by brokers James Galbally and Brett Grifo of commercial real estate firm JLL, that company said in a separate release.
The purchase is the largest Philadelphia acquisition to date for Keen, who is active in New York's real estate markets, the Duane Morris spokesman said.