Blatstein Unloads Piazza; Poised to Let It All Ride on The Provence Casino Project

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Piazza at Schmidt's Photo: uwishunu

Looks like developer Bart Blatstein is going all in on his proposed Provence casino project. The Inky this afternoon is reporting that he’s sold his controlling interest in The Piazza at Schmidt’s, the sprawling mixed-use facility that’s home to a slew of bars and restaurants — P.Y.T., Gunners Run, Baan Thai, Max’s Brew Bar among them — that he built on the site of the old Schmidt’s brewery in NoLibs. He unloaded the properties to New York-based investment group that’s made up of Kushner Companies and Oaktree Capital Management L.P. The adjacent Liberties Walk goes with the Piazza in the deal. Though no numbers have been revealed, estimates put the value of the properties in the realm of $130 million. Asked if proceeds from the sale would go toward his North Broad Street casino project, Blatstein is quoted saying, the deal "allows me to focus more on The Provence." [Inquirer h/t Phawker]

Earlier: Piazza Developer Unveils Plans for a North Broad Street Casino