Sigma Sound Studios sold
The legendary recording space that helped define the “Philadelphia Sound” — and hosted artists like Teddy Pendergrass, the Jackson 5, David Bowie, Billy Joel, the Roots and Boyz II Men — has been sold.
The legendary recording space that helped define the "Philadelphia Sound" — and hosted artists like Teddy Pendergrass, the Jackson 5, David Bowie, Billy Joel, the Roots and Boyz II Men — has been sold.
The building at 210-214 N. 12th St., the 13,858-square-foot-structure that hosted Sigma Sound Studios, was bought for $1.55 million and will reportedly be renovated into apartments, retail or office space.
Jim Gorecki of Fidelity Commercial Real Estate, who represented the sellers — Sine Partners L.P./New Sigma L.L.C. and Conestoga Bank — said the renovation project would result in a possible "residential conversion," though the buyer has not made an official statement.
An investing partnership of 210 North 12th Street Investments L.L.C. and 212 North 12th Street Investments L.L.C. made the purchase.
The building, which was on the market for 90 days, had other offers but ultimately went to the group who "had the best terms," said Gorecki.
"That area has seen a lot of development," Gorecki said of other residential units that have arisen. "It's near the Convention Center, it's near Chinatown. There's a lot of activity in that area."
The studios where Gamble and Huff's Philadelphia International Records churned out massive hits in the '70s and '80s shut down last year.
Over 6,000 master audiotapes from the studios were donated to Drexel University's Audio Archive for storage and preservation in both 2005 and earlier this year.