A long-vacant mixed-use property at 1401 Reed St. will get some much-needed attention very soon, as new owners recently purchased the property. A neighbor pointed us to an Instagram post from Phillypropertyhunters which shared this exciting news. Yes, the post is a few weeks old, but cut us some slack, we were out of the country!
Per the post, this place held what may have been the first liquor license awarded in Philadelphia after the repeal of Prohibition. The liquor license (probably not the same one that was given in 1933) was sold in the time that the building was vacant, but the news that the building will finally get renovated is great indeed. The new owners should be getting started on their renovation efforts in the near future, and plan for two apartments above a commercial space. When we spoke to the broker today, we learned that the space is still available for rent and that a restaurant use is expected. The owners would be on board with a bar/restaurant or just a restaurant sans liquor license.
The immediate area might not seem so conducive to a restaurant, but the right concept could certainly work. Remember, it's half a block off Broad Street and two and a half blocks from a subway station. Circles is a couple blocks away and has been quite successful on Tasker Street over the years. And Benna's West has brought a ray of sunshine to Broad & Dickinson. Certainly, another addition would be a boon for neighbors on both sides of Broad Street.