Cohen Equities of New York has acquired a seven-floor section of the former Strawbridge & Clothier department store building at 801 Market St., the real estate investment firm said in a statement on its website.
Cohen purchased floors seven though 13 of the 1930s building, encompassing 382,800 square feet of offices, the company said.
The property was purchased Monday for $30.5 million from debt servicer LNR Partners LLC, which had taken control of it after the default of an earlier owner, said Taylor King of real estate services firm Newmark Grubb Knight Frank, who helped broker the transaction.
The building's lower six floors are separately owned by Pennsylvania Real Estate Investment Trust. Tenants of those floors include the Century 21 off-price retailer, as well as the offices of The Inquirer, the Philadelphia Daily News and Philly.com.