**Wanamaker Building in Philadelphia Sold in $30M Third-Party Deal**
The iconic Wanamaker Building, one of the largest and most historic buildings in Philadelphia, has been sold in a third-party transaction facilitated through an online auction in partnership with the Philadelphia Sheriff’s Office.
Located at 100 Penn Square East, the landmark property was purchased for $30 million during a single-day real estate auction held in June. The auction was conducted by Bid4Assets, a leading online marketplace for distressed real estate sales. New York-based real estate developer TF Cornerstone emerged as the winning bidder and plans to redevelop the building into hundreds of condominiums.
Originally constructed on the site of the former Grand Depot at Thirteenth and Market Streets, the Wanamaker Building housed the flagship Wanamaker Department Store and its corporate headquarters. Today, the structure spans 12 stories above ground and includes three additional levels below, functioning as a mixed-use office and retail destination.
“The Wanamaker Building is an integral part of Philadelphia’s history, and I am proud that we were able to facilitate a sale that ensures its continued development in a way that benefits our community,” said Sheriff Rochelle Bilal.
The transaction marks a significant step for the evolution of the building, aligning with broader trends in the adaptive reuse of historic properties across urban centers.
