Vesper Aquires Historic 1619 Walnut Property

Former Westinghouse Broadcasting Studio in Philadelphia Trades for $7.1M

Vesper Property Group purchased the historic former broadcasting and recording studio at 1619 Walnut St. in Philadelphia from the City of Philadelphia, acting as trustee for the Girard Estate. The property traded for $7.1 million, or $180 per square foot.

The six-story 39,305-square-foot office and retail building was constructed in 1937 and previously housed Westinghouse Broadcasting and later, CBS affiliate KYW-TV. The building's lower level, which was used to tape "The Mike Douglas Show," is now occupied by tenants such as the Brasserie Perrier restaurant and architecture firm Claflen Associates.

The building is listed on the National Register of Historic Buildings.

Vesper is planning renovations to the common area and mechanical upgrades within the next several months. Gary Silvi, president of Vesper Property Group, stated, "The acquisition of 1619 Walnut Street provided us with the opportunity to acquire exceptional retail and office space in the heart of Center City Philadelphia's booming retail sector."