The Center City building that houses Tiramisu restaurant was
sold for $6.2 million.
The property at 1519 Walnut St. sits just two blocks off
Rittenhouse Square and was bought by Blatteis & Schnur Inc., a Los Angeles
real estate company, said Shaun Lyons, president of Precision Realty Group.
Lyons arranged the off-market transaction.
The four-story building totals 8,500 square feet and was
sold by Albert Shah, who ran Tiramisu and its predecessor — Il Portico — in the
same space.
The sale of the property shows the ongoing strength of
Walnut Street and Rittenhouse Square real estate.
“Rental rates continue to grow and sale prices continue to
rise,” Lyons said. “It’s a good place to be on Walnut Street.”
Blatteis & Schnur is looking to expand its footprint in
Philadelphia with similar high-profile properties and this is its first
acquisition in the city, Lyons said.
Tiramisu is expected to move out in the next couple of
months. While the new owner doesn’t have any immediate plans, it is looking for
a high-end retailer to backfill the space. The building sits between Govberg
Jewelers and Barbour.
Source: Philadelphia
Business Journal
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