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UkHistoric Wanamaker Building Sold in Online Auction on Bid4Assets
Philadelphia Sheriff’s Office and Bid4Assets Partner for Landmark Sale
August 21, 2025 08:30 ET | Source: Bid4Assets, Inc. Bid4Assets, Inc.
PHILADELPHIA, Aug. 21, 2025 (GLOBE NEWSWIRE) — The iconic Wanamaker building was successfully sold as a third-party sale through an online auction conducted by Bid4Assets, the leading online marketplace for distressed real estate auctions, in partnership with the Philadelphia Sheriff’s Office. The property was acquired by a real estate developer for a remarkable $30 million in a single-day auction held on June 3 rd .
TF Cornerstone, a New York real estate developer has acknowledged that they were the company behind this purchase. According to TFC, plans for the historic building include its transformation into hundreds of modern condominiums, giving the structure a new chapter of life while preserving its legacy.
The Wanamaker building’s sale highlights the wide range of properties that can be transacted via digital platforms like Bid4Assets, from vacant lots under $10,000, to a wide range of homes, to high-valued commercial real estate.
More details about upcoming online auctions in Pennsylvania can be found directly on the Bid4Assets website.
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Bid4Assets is one of the world’s leading online marketplaces for the sale of distressed real estate property sold by governments, county tax-collectors, financial institutions, and real estate funds. It conducts online tax and foreclosure sales for counties across the United States and has sold more than 150,000 properties grossing more than $1.8 billion in completed government transactions. Bid4Assets is a wholly owned subsidiary of Liquidity Services.
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Spokane County to auction off acres across the region, including large Rimrock parcel
Parcels big, small, secluded and urban across Spokane County will soon hit the public marketplace.
The Spokane County Board of Commissioners voted unanimously Tuesday to place seven properties owned by the municipality up for auction, ranging in size and value from small strips of land left over from past road projects to a 40-acre plot abutting Riverside State Park. The county estimates it’ll see more than $1.3 million returned through the land auction being held on GovDeals.com.
Spokane County Public Works Director Kyle Twohig told the commissioners in a briefing last month the 40 acres along North Indian Bluff Road, nicknamed the Rimrock property, was acquired years ago through a foreclosure. With expansive views and plenty of open land, its appraised value of $409,000 has led interested parties to reach out already.
“It’s view lots; it’s nice,” Twohig said.
The Rimrock plot does come with challenges, including a septic tank encroachment from the neighboring property, struggles connecting utilities and very limited road access.
Two gravel pits also to be auctioned off by the county face similar dilemmas. The Whitman Pit off North Wood Road in Reardan and the Rocklake School Pit off West Williams Lake Road in Cheney are both undeveloped, and the Cheney plot is surrounded on all sides by a 52-acre parcel owned by the Donel Belsby Farming Ranching Corp., according to property records. The acre including the Whitman pit was appraised at $11,000, while the Rocklake School pit, at 1.75 acres, was appraised at $22,000.
The remaining undeveloped properties on the list are in more urban settings, including two scooped up as part of past road projects. A tenth of an acre, which Twohig emphasized is a legal lot, located on the corner of University Road and Ninth Avenue with an appraised value of $19,000 will be the smallest of any included in the auction. Also in the area is a parcel about three times larger just a block away at the 8th Avenue intersection with an appraised value of $102,000.
The auction will include one developed lot, located at 115 N. Evergreen Road in Spokane Valley. The 1954 ranch-style home has three bedrooms and a full bath, and was previously used by Spokane County’s volunteer Sheriff’s Community Oriented Policing Effort, SCOPE.
The county unsuccessfully tried to auction off the SCOPE house last year starting at its appraised value of $399,000, but appears to have dropped the opening bid to $250,000 this time around, according to county records. County Commissioner Al French noted the house does need some work.
“The only thing that doesn’t need upgrading is the address,” French said.
Land won’t be the only thing made available to the public soon. The commissioners also unanimously approved a plan to auction off nine vehicles, two trailers and a plethora of used industrial and IT equipment Tuesday. Among the vehicles are five Dodge Chargers from 2009-2011 and a 1991 International crew bus used by the county’s detention services department.
The equipment and vehicles will be auctioned off on publicsurplus.com, with a few select heavy equipment items being offered through a live “straight auction” on Wednesday, Aug. 27, at J. Scout Auctions off Sunset Highway. The online offerings will be on the site from Sept. 2 through Sept. 19.
For the land auction, a start date has not been set. The county will provide public notice when the time nears.
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