Seven Penn Center Sells for $39M, Major Renovations Planned

Seven Penn Center has sold for $39 million, which is a significant drop from a $50 million price tag some real estate observers thought the property might get.

Nightingale Properties of New York bought the 19-story, 286,574-square-foot building at 1635 Market St. from the Arden Group of Philadelphia. Jones Lang LaSalle arranged the transaction.

With the Seven Penn purchase, Nightingale has now accumulated a portfolio of four Center City office buildings including 1500 Spring Garden St., 1835 Market St. and 1700 Market St.

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