Iconic Winston-Salem Apartment Building Sold

Posted By: Jon Lowder Blog ,

An apartment building which has been a cornerstone of downtown Winston-Salem's renaissance over the last 15 years has been sold to a Philadelphia-based company. From an article in the Triad Business Journal:

A Triad skyscraper sold for $30.25 million in a deal that closed Monday, according to Forsyth County records.

PMC Property Group of Philadelphia bought the 18-floor Nissen Building Apartments at 310 W. Fourth St. in downtown Winston-Salem from HRI Properties of New Orleans. PMC redeveloped the R.J. Reynolds Building at 401 N. Main St., transforming it into a mixed-use facility including the Kimpton (NYSE: IHG) Cardinal Hotel.

Built in 1927 — then the tallest building in North Carolina —- Nissen contains 145 luxury apartments. The building is on the National Register of Historic Places.