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Sign in Sign up for a FREE subscriptionEquity Commonwealth to sell office tower in Philadelphia for $451m
Equity Commonwealth has plans to sell BNY Mellon Bank Center, a 55-story, 1.3 million-square-foot office building located at 1735 Market St. in downtown Philadelphia for $451.6 million.
The buyer was undisclosed; however, multiple media outlets have identified a partnership between New York City–based Silverstein Properties and Philadelphia-based Arden Group as the buyer.
The asset is the fourth-largest building in Philadelphia. Amenities include The Lounge at 1735, a 19,000-square-foot space offering a 100-person classroom-style conference facility, fireplaces, wine lockers and TVs; Pyramid Club, a lounge on the 52nd floor offering a 360-degree view of Philadelphia, a bistro bar and a sit-down restaurant; the Philadelphia Sports Club, a 25,000-square-foot, two-story fitness center offering a sauna, rowing machine, group fitness classes, and massage therapy; and covered bike parking. Tenants include Bank of New York Mellon Corp., Goldman Sachs Group, and law firms B
