Chatham Bay Acquires Former Philadelphia Factory for $9.6M, Plans Multifamily Conversion


Work on the adaptive reuse of the building at 2019-53 E. Boston St. in Philadelphia is expected to begin in the fourth quarter and to be complete in 2024.

PHILADELPHIA — The Chatham Bay Group has acquired a former factory located at 2019-53 E. Boston St. in Philadelphia’s East Kensington neighborhood for $9.6 million. The Delaware-based investment firm plans to implement an adaptive reuse program that will convert the facility into a 178-unit apartment complex. Philadelphia-based architecture firm Designblendz is designing the project. Phil Sharrow and Craig Thom of Scope Commercial represented Chatham Bay and the seller, Viking Mill Associates LLC, in the transaction.

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