Northeast Times

Blatstein sells NoLibs holdings

De­veloper Bart Blat­stein, whose de­vel­op­ment pro­jects in North­ern Liber­ties helped trans­form the neigh­bor­hood in­to a pop­u­lar res­id­en­tial and com­mer­cial des­tin­a­tion, has sold 60 per­cent of his hold­ings there to New York in­vestor group Kush­ner Com­pan­ies, The Phil­adelphia In­quirer re­por­ted Thursday.

Blat­stein’s Tower In­vest­ments, Inc. said Thursday it had sold con­trolling in­terest in The Piazza at Schmidt’s and Liber­ties Walk at Schmidt to Kush­ner Com­pan­ies, but no pur­chase price was dis­closed. The In­quirer did re­port, however, that the prop­erty in the deal was thought to be worth $130 mil­lion.

The Piazza con­sists of 430 res­id­en­tial units, 100,000 square feet of com­mer­cial space and an 80,000 square-foot plaza. The com­mer­cial space in­cludes res­taur­ants, bars and shops, and the plaza is host to many events and con­certs.

Liber­ties Walk in­cludes 72 apart­ments and 30 com­mer­cial spaces.

Blat­stein told The In­quirer, “It’s a great time to be selling multi-fam­ily as­sets.”

Blat­stein is also one of the six con­tenders for Phil­adelphia’s second casino li­cense. His pro­ject’s loc­a­tion is a three-block prop­erty he already owns along Cal­lowhill Street between Broad Street and 17th Street.

Star Man­aging Ed­it­or Mi­kala Jam­is­on can be reached at 215-354-3113 or at mjam­is­on@bsmphilly.com.

You can reach at mjamison@bsmphilly.com.

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