Local Developer Plans Condo Project in Philadelphia’s Center City

Local full service development firm Astoban Investments has purchased the former headquarters of Freeman’s auction house in Philadelphia’s Center City from a private family trust for $14.3 million, or about $330 per square foot.

The 43,284-square-foot, six-story building at 1808-1810 Chestnut St. was completed for the auction house in 1924.

Astoban Investments said in a June application to the Philadelphia Historical Commission that it wanted to convert the property into condos.

Freeman’s plans to move to an office building anchored by Aramark at 2400 Market St. on the Schuylkill waterfront.

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