One of New York’s most established real-estate companies has bought an assemblage of piers along the Delaware River for eventual development into an apartment complex, vindicating efforts to spur private investment on the Philadelphia waterfront by enlivening its public spaces.

The Durst Organization, which counts Manhattan’s One World Trade Center and 4 Times Square office buildings among its holdings, bought the four Delaware River piers just north of the Benjamin Franklin Bridge this month from Brandywine Realty Trust for $21.4 million, in what the company said is its first acquisition outside New York state.

Ballard Spahr represented Brandywine Realty Trust, with a team led by Michael Sklaroff and including Joanne Phillips, Alan Ritterband, Harry Weiss, Sara McCormick, and BJ Clark.

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