Sale closes on bank at Broad and Snyder & it’s for rent. Hear that South Philly Co-op?

The sale on the Beneficial Bank building at Broad and Snyder, which we told you was pending in December, closed that month for $740,000, according to city records.

Imagine the possibilities.
Imagine the possibilities.

The building was listed for $799,000 and included 3,800 square feet on the first floor and a 1,500 square foot mezzanine. Now, it’s been put up for rent by Metro Commercial Leasing. The listing doesn’t indicate what the new owners want for the building, only saying the rent is negotiable.

No word on what will be going into the building, though it is zoned CMX-2, which means “permitted uses include retail, banks, restaurants, offices, residential and more.” Commenters on the last post about it hoped for the best, and we do to. Imagine what that could be! A certain food co-op could be a good tenant, no?

One interesting thing to note is that even though the building sold for $740,000, it’s assessed for double that: about $1.6 million, according to city records. Hmm, that seems to indicate that the Actual Value Initiative isn’t actually … actual … in some cases. Hmm, curious.


5 thoughts on “Sale closes on bank at Broad and Snyder & it’s for rent. Hear that South Philly Co-op?

  • June 3, 2013 at 10:15 am

    I’m pulling for the old Abbott’s Dairy building on 17th and Mifflin although I could deal with Broad and Snyder I suppose.

  • June 3, 2013 at 10:37 am

    I would definitely become a member If the food co-op rented that building

  • June 3, 2013 at 3:23 pm

    I have to imagine this building’s rent would be well above the Co-Op’s budget. No matter your feelings about that block, it’s filled with national retailers that normally pay hefty rents.

  • June 4, 2013 at 12:29 pm

    Please rent this space South Philly Co-op! I would definitely become a member if that happened. We desperately need a nice grocery store in this area

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