The new owner of Philadelphia’s historic Wanamaker Building is planning an office-to-residential conversion that will bring 600 loft-style apartments to the property’s top six floors.
According to combined media reports, New York City-based developer TF Cornerstone will begin the two-year conversion project in early 2026. The company previously owned the 114-year-old building’s first three floors, which were occupied by Macy’s until earlier this year, and it acquired the building’s fourth through 12th floors and its underground parking garage this week in a foreclosure auction, thus securing its total ownership.
Three of the building’s popular attractions – the Grand Court, the Wanamaker Organ, and the ninth floor Crystal Tea Room – will be retained in the newly reconfigured building. Office space will be preserved on the fourth and fifth floors, a new retail tenant will be sought for the first and second floor spaces while a to-be-determined cultural component will be introduced on the third floor.
“Throughout the entire process we have considered the deep historical and sentimental value of the Wanamaker Building to the Philadelphia community,” TFC Senior Vice President Jake Elghanayan. “We feel privileged to be given the opportunity to reimagine this iconic building in a way that respects its historic integrity and adds to the vibrancy of the Center City community.”
Photo: Fred Cherrygarden / Wikimedia Commons
