Image via Tripadvisor.
McGlinchey’s Bar, which closed during the summer of 2025, will likely soon be under the ownership of Alterra Property Group.
McGlinchey’s Bar in Center City, which closed last summer after a decades-long run, could soon be under new ownership in Philadelphia real estate developer Alterra Property Group, writes Michael Tanenbaum for PhillyVoice.
The three-story property was listed for sale for $2.45 million back in January 2026.
There is currently a liquor license posted on its front door, which lists “The Great American Bar Scene LLC” as the ownership transfer’s applicant, which is associated with Alterra Property Group.
The local developer already owns a number of residential and mixed-use properties throughout Center City.
Nadia Bilynsky, principal at MPN Realty, which is handling the deal, said “… There were multiple offers and at the end of the day, this was the deal that the seller decided to go with.”
McGlinchey’s most recent owner, Sheldon Sokol, retired back in August 2025 after 40 years of operating the popular dive bar. He and his late brother, Ron, inherited the bar from their father who passed away in 1985.
The ground floor of the property originally operated as a restaurant during the 1930s under original owner and namesake Joseph A. McGlinchey. It transitioned into a dive bar in the 1950s.
Read more about the closure and likely sale of McGlinchey’s Bar at PhillyVoice.
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