American Loft Building Sells in Philadelphia

"Brown Street at American LLC purchased the American Loft building at 717 N American Street in Philadelphia from Abington Bank for $10.7 million, or $267,500 per unit. This was an REO sale.

The 45,825-square-foot, 40-unit luxury condominium high-rise was once intended to be marketed as for-sale condo units. The new owner will be operating the property as an apartment building.

The American Loft building was vacant at the time of sale."