An article published in the Wall Street Journal on December 5, 2013 details a conversion of one of New York’s finest buildings into residences:

Since 2005, parts or all of 14 Manhattan sites have been sold or are in contract to be sold by Verizon, the successor to New York Telephone, property records show. The sales reflect the once vast scope of the old phone company's real-estate holdings, everything from two-story garages to modern towers to Art Deco skyscrapers.

A telephone-exchange building that dates to 1917 is now on the market by Verizon on West 36th Street near Seventh Avenue as a potential hotel site. No asking price has been set. Properties are also on the market in Philadelphia and Boston.

"We don't use it to raise capital or raise cash," John Vazquez, a senior vice president for global real estate at Verizon, said of the property deals. Instead, he said Verizon was making "opportunistic" sales in a strong market "to leverage these great buildings in New York City."

The attention that the 1917 structure is receiving presents the relevance, appeal, and sales potential of historical buildings that are converted into condos in Philadelphia and other parts of the nation.

While the New York Telephone building is creating quite a buzz, Philadelphia is also home to two historic condominium buildings of its own. One is Rittenhouse Square, which was completed back in 1926 and was included in the National Register of Historic Places in 1982.

Another fine historical property is The Barclay, a former hotel that was opened in 1929. Followers of American political history would remember the Barclay for the 1980 Abscam operation that arrested a United States senator and several other federal, state and city officials.

Living in these buildings is wonderful, and the property is very friendly to the pocket. It is easier to renovate and improve an already-existing structure, and the building’s value is sure to rise over time. Therefore, it wouldn’t be hard for the owner and a trusted real estate agent to sell it off to a person interested in the regality and historical aspect of the building.

Many quality Philadelphia luxury condos can cater to a lot of buyers’ tastes. All it takes is for buyers to contact reliable agents like Joanne Davidow to find them.

(Article Excerpt and Image from Old Phone Buildings Are Being Converted into Condos, Wall Street Journal, December 5, 2013)