223-227 Chestnut Street

The two buildings at 223-227 Chestnut Street were constructed sometime between 1851 and 1872 and served as the consulate of the German Empire. After over 30 years of vacancy and neglect, while the building continued to decay, the Philadelphia Industrial Development Corporation selected Posel to purchase the building after a competitive RFP process. This decision was based on their confidence in our financial strength and our ability to successfully redevelop the property. We required no financing for the purchase or renovation. The building is now occupied by a number of retail tenants, as well as two technology oriented businesses.