A hu
lking landmark in the heart of North Scranton could change the face of Providence Square as it hits the real estate market.
The historic bank property at 1902 N. Main Ave. has an asking price of $650,000, said Patrick W. Sammon, commercial real estate agent with Hinerfeld Commercial Realty of Scranton, which is marketing the property.
The building, most recently a PNC Bank, sits at the base of Providence Square, the face of its patina clock peering up West Market Street.
Typical of banks of the first part of the 20th century, the exterior features granite and masonry columns alongside a brass doorway and clock beckoning visitors to a towering lobby.
The building is a throwback, even for an old bank. The atrium features six brass teller cages, a 3-foot-thick chrome safe and two tiny rooms where patrons would securely review safe deposit boxes.
A partial second floor features a walnut-lined executive office and a boardroom from the bank’s days as North Scranton Bank and iterations thereafter. Leather-backed chairs sit around a long table catching color from stained-glass windows.
A full basement has a large machine with rotating shelves used in an analog past to clear physical checks by hand.
While the ban
k has a new roof and new boiler, Mr. Sammon said those updates may not be enough to entice someone to renovate the building. A likely scenario would be a national buyer who razes it and builds something new. The value of a property like this is in the land, the location and the traffic volume that passes by. The building sits on a quarter acre that includes 22 parking spots.
On a recent tour of the building, Mr. Sammon examined the masonry work and brass window casing.
“It’s sad when you consider the replacement cost of a building like this,” he said. “But who would build something like this today?”
Ever since PNC Bank ceased operation several weeks ago, locals have speculated about the keystone property.
In the heart of North Scranton’s culinary hub, the building could have a second life as a high-end restaurant or brew pub, a common use of former bank buildings. As an eatery, it would be a stone’s throw to Pehr’s Pizza, Ipanema Grille Brazilian Steakhouse, Samario’s Pizza & Restaurant, Market Street Bar & Grill and Stirna’s Restaurant.
Sam Parlopiano, owner of Samario’s, said if the building had been available in his restaurant’s early days, he would have considered moving his restaurant there, realizing the potential for rooftop dining.
“I’d imagine that would cost a ton of money,” he said. “The bank brought traffic to the area and I hope the new owner would generate traffic, if not a restaurant, maybe like a lawyer’s office or doctor’s office.”
A few properties down from the former bank, Bernard McGurl serves as executive director of the Lackawanna River Corridor Association, a customer of PNC Bank. As technology changed, he did not need to go to the bank building as often.
Beyond the fate of the property, he is more concerned about the neighborhood, which he said needs a comprehensive plan or a project similar to the one led by United Neighborhood Centers on South Side that spearheaded affordable housing, redevelopment of Cedar Avenue and the Iron District. Providence Square, he noted, was one of the first settled areas of Scranton.
“The area has tremendous potential physically,” he said. “It needs a comprehensive plan that results from a collaboration between the city, businesses, neighborhood associations.”
Contact the writer: dfalchek@timesshamrock.com
