The 11,000-square-foot building at 25 S. Broad St. is currently home to Twin Rivers Podiatry and Backyard Tree House Pediatric.
About one third of the building was used by St. Luke’s University Health Network, which recently vacated the building.
The investor, Steve Stern, who purchased the property through an LLC named 25 Broad LLC. , said in a press release that he intends to modernize the building, while preserving its historic architecture.
He said the building was built as a car dealership, but has served as a bowling alley and blouse factory over the years.
“We’re trying to attract medical tenants,” Stern said, “but will accommodate other professional uses as well.”
Jeff Barber of Lehigh Financial Group LLC in Allentown arranged financing for the purchase and capital improvements. Jim Thorpe Neighborhood Bank funded the loan.