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What's Happening in:  Lower Moyamensing 

Old Beneficial Bank at Broad and Snyder nearly sold

In what could really be a boon for a sketchy area of the neighborhood, the proud, stone bank building at Broad and Snyder is under agreement for sale, according to the realtor.

Convenient to both the subway and McDonald’s

David Goodman from Equity Retail Brokers told us that the buyer, which he wouldn’t disclose, is currently in the due diligence process before completing the sale from Beneficial Bank. According to the listing, the building was listed for $799,000 and included 3,800 square feet on the first floor and a 1,500 square foot mezzanine.

The property is zoned CMX-2, which means “permitted uses include retail, banks, restaurants, offices, residential and more.”

From the sales brochure

The branch closed this summer, moving a couple blocks away to Passyunk and Mifflin. The move added a vacant property to the mix on one of the crappiest blocks next to one of the nicest parts of South Philly. It also didn’t bode well for the block because former bank buildings in some parts of town have languished for years (see dead 1200 Bank project and numerous old banks in Kensington, for instance).

But with this impending sale, this could signal a huge turnaround with the right use. No new permits have been applied for the building, so far as we could tell, but we’ll update you as soon as we hear anything. In the meantime, what’s on your wish list for that space?

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7 Responses to Old Beneficial Bank at Broad and Snyder nearly sold

  1. Anonymous December 26, 2012 at 5:58 pm #

    Awesome News! Happy to hear about all the new development happening along Snyder Avenue.

  2. David G December 26, 2012 at 7:09 pm #

    Great news.

  3. Ben December 27, 2012 at 4:12 pm #

    I suspect it will be another social services building of some kind but I hope I am wrong. I hope the local civics keep a close eye on what the planned use it.

  4. Anonymous December 27, 2012 at 4:15 pm #

    Any good news for that block is a plus.

  5. lee December 27, 2012 at 4:18 pm #

    I would think that with its proximity to the subway it could be a really great retail or service biulding. However, its proximity to South Philly High and “the crappiest block around” means that it will likely end up being underhwelming……….however, for $799k whoever buys it better have a good revenue generating use in mind.

    So, I guess, to parrot David G. this is great news.

  6. Anonymous December 27, 2012 at 6:43 pm #

    I would love for some kind of a small brew pub to go in there.

  7. Brett Guzzi December 27, 2012 at 11:23 pm #

    ^ like

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