Atlantic Building Has a Residential Future

PhillyDeals reports that the Atlantic Building, a 1920s office tower standing at Spruce and South Broad Street, has been sold to Post Brothers, Matthew and Michael Pestronk, the developers converting the Goldtex building into loft apartments.  The Post Brothers plan to convert the Atlantic to residential use.

The building was sold to Post for more than $22 million.  The Atlantic Building was built for the Atlanstic Richfield Oil Refining Company's offices, styling terra cotta exterior and rich Art Deco flourishes.  Today the building is about 60% vacant.