Procida funds rebirth of RCA Victor building
Located on the Delaware River waterfront, the loan will provide for the acquisition, marketing, light rehabilitation and lease-up of the former headquarters to the world-famous record company.
Built in 1916, the office building was originally known as Building No. 2 on Victor’s 58-acre campus, which encompassed 10 blocks and employed more than 13,000 local residents. Also known as the Nipper Building, because of its stained-glass images of RCA’s famous terrier logo, the building is one of only four that remains of the company’s 38 buildings.
Frank Sinatra and Woody Guthrie signed contracts in its seventh-floor boardroom, while Neil Armstrong and Edward "Buzz" Aldrin Jr. used backpack radio systems built at RCA’s Camden facility to communicate with each other as well as the rest of the world when they were on the moon.
The building has most recently been used by the Camden Board of Education.
“The property is appealing for its historic value as headquarters for the company that revolutionized the radio and television industry, as well as its location in Camden, a city that is on the cusp of a major renaissance,” said Procida Funding CEO William “Billy” Procida, who is also an accomplished singer and guitarist. “We’re excited to support a project that will transform the former epicenter of the music industry into its next generational use.”