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Grit – January 27, 1957 – Syndicate to Buy Theater Building

Compiled by Lou Hunsinger Jr.

A four-man syndicate, headed by Julius Simon of 631 Lincoln Avenue, will take title to the Park Theater Building tomorrow, when final details of the sale are to be completed.

One of the largest real estate transactions here in recent years, it reportedly involves $60,000 to $70,000.

Mr. Simon said last night plans for the building are, “indefinite.”

In addition to Mr. Simon, who operates a salvage company at Jersey Shore, the buyers are William Pickelner, 590 Lincoln Avenue, a coal dealer, Harry Schwab, of 796 Belmont Avenue, an equipment distributor, and A. LaRue Velott, of 1809 Woodmont Avenue, a tobacco wholesaler.

The property on West Fourth Street between Walnut and Campbell streets includes the movie theater, street-level stores, a large second floor area originally built as a ballroom, and five apartments.

All equipment in the theater, which was closed two years ago, is included in the sale.

Durant L. Furey is broker for the owners, Park Theater Building, Inc. The firm represents the estates of Perry L. Hoffman and L.J. Chamberlin, both deceased, who bought the building in 1937.

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