Real Estate
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Newly-Renovated Affordable Housing Units in Kensington Give Families New Place to Call Home
Philadelphia developer Odin Properties recently unveiled the new renovation of an affordable housing community in Kensington, giving dozens of previously unhoused families a new place to call home, write Josh Sanders and Nate Sylves for CBS News Philadelphia. The new Kings Highway Apartments development is a 31-unit affordable housing unit along Frankford Avenue in Kensington.…
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Philadelphia’s New Apartments Are Among the Smallest in the Nation, According to New Report
As the average size of new apartments are continuing to expand nationwide, some cities such as Philadelphia are an exception. Philadelphia has the 10th smallest average new apartment size in the nation, according to a new report by RentCafe. The report found that new Philadelphia apartments are an average of 759-square-feet, which is significantly lower…
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Comcast CEO Brian Roberts Acquires Upscale $9M Condo in West Hollywood’s Arts District
Brian Roberts, Comcast CEO, recently purchased the upscale 8899 Beverly residential tower in West Hollywood’s Arts and Design District as his new residence, writes Wendy Bowman for Robb Report. In August, Roberts sold his John Elgin Woolf-designed home Beverly Hills home for $20 million, and purchased his new Olson Kundig-designed tower for $9 million. The…
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House of the Week: Charming Straight Thru in East Falls
A charming straight thru home on a lovely 1,400-square-foot lot with three bedrooms and two full and two half bathrooms is available for sale in East Falls. This beautifully renovated residence sits on a peaceful, welcoming street. Thoughtful details include Brazilian cherry hardwood floors, high ceilings with recessed lighting, with a neutral color palette throughout…
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A Gladwyne Mansion That Defies Today’s Lower Merion Zoning Codes Hits Market
A stately 18,000-square-foot mansion in Gladwyne’s coveted estate section has just hit the market, listed for $7.875 million, writes Ryan Mulligan for the Philadelphia Business Journal. Tucked behind gates on 1.5 manicured acres along Waverly Road, the home offers eight bedrooms, 14 bathrooms, and luxury features across four sprawling levels — including a pool, a…
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West Chester Housing Market Surges as HSN Relocates to QVC Headquarters
Chester County homes are experiencing a surge in popularity as the Home Shopping Network (HSN) relocates to West Chester, writes Jeff Blumenthal for Philadelphia Business Journal. In January, QVC Group, the parent company for both QVC and HSN, announced plans for both sister networks to be housed in QVC’s Studio Park headquarters. A company spokesperson…
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Ten Penn Center in Center City Set to Go Up for Sale
Ten Penn Center, the 27-story office tower in Center City owned by New York-based Sterling Equities and West Chester-based Greenville Partners, is set to hit the market, writes Paul Schwedelson for the Philadelphia Business Journal. The 668,000-square-foot building was constructed in 1981 and purchased by its current owners in 2006 for $75 million. The property,…
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New Analysis Reveals How Much Penn Owns in University City Real Estate
The University of Pennsylvania trustees own more than $3.3 billion in real estate in University City, three times more than any other educational institution in the region, writes Emily Scolnick for The Daily Pennsylvanian. According to an analysis of city property records by The Daily Pennsylvanian, Penn’s real estate holdings in Philadelphia include numerous campus…
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House of the Week: Exquisite Traditional with Stunning Views in Chestnut Hill
An exquisite traditional home on lovely 0.99 acres with six bedrooms and three and a half bathrooms is available for sale in Chestnut Hill. This gorgeous residence offers breathtaking views and direct access to the first fairway of the historic 9-hole St. Martins golf course, part of the renowned Philadelphia Cricket Club. As a bonus,…
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Buyers of Fishtown Property Unveil Conversion Plans After $1.7 Million Acquisition
The buyers of a Fishtown property, which has three buildings next to SEPTA’s Market-Frankford Line, plan to convert the existing hotel into apartments and replace two eateries with a New York-style deli, writes Emma Dooling for the Philadelphia Business Journal. Brothers Sam and Mohammed Abiah and other undisclosed investors paid $1.7 million for the site…
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This Delaware County Town Declared a Best Place to Move to in Pennsylvania
The website Consumer Affairs has chosen a Delaware County community as one of the five best place to move to in Pennsylvania, writes Max Bennett for Patch. Drexel Hill placed at No. 2 among the top five destinations in the state for affordability, safety, economic strength, health care, education, and the quality of life. “Drexel…
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Sheetz Goes on Offensive with Plan to Open Store Across from Wawa in Chester County
Sheetz is making a bold move in its rivalry with Wawa, pushing into its opponent’s territory with plans to open one of its first Greater Philadelphia locations in Chester County, writes Emma Dooling for the Philadelphia Business Journal. The convenience store and gas station chain plans to redevelop a shuttered Rite Aid in Downingtown, diagonally…
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Philadelphia Commercial Real Estate Leaders Talk Present, Future of Center City Office Towers
Since the start of the pandemic, Philadelphia’s office sector has seen a shift, writes Noah Zucker for BisNow. In more recent years, we have seen many return to the office, while other office towers have downsized. The high vacancy has left many landlords struggling. There has also been residential conversions that have helped save some…
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House of the Week: Lovely New Custom Home Coming Soon to Roxborough
A lovely new custom home on 0.83 lovely acres with four bedrooms and four and a half bathrooms is coming soon to Roxborough. This exceptional residence, part of the Port Royal Reserve community, to be custom-built by award-winning Harth Builders, offers the rare opportunity to live in harmony with nature in one of Philadelphia’s most…
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Philadelphia Home Prices Have Increased More Than the National Average
Home prices are leveling around the country, and in some regions are even coming down, as more homes are being listed for sale, write Janice Kai Chen and Rachel Lerman for The Washington Post. According to a recent WaPo analysis of home value data, single-family home prices grew only 2.7 percent nationally in the last…
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Exertis Almo Sells Northeast Philadelphia Headquarters for $27.2M
Exertis Almo has sold its longtime Northeast Philadelphia headquarters to a Boston real estate investment firm for $27.2 million, writes Ryan Mulligan for the Philadelphia Business Journal. The 143,060-square-foot building at 2709 Commerce Way was acquired by an entity affiliated with Cabot Properties through a sale-leaseback transaction. The deal comes after the 2021 sale of…
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‘Exploding Offer’ on Wynnewood Home Underscores Unrelenting Market Heat
While housing markets in some parts of the country are finally starting to cool, Montgomery County is only getting hotter, with homes frequently selling before they even get listed publicly, writes Ryan Mulligan for the Philadelphia Business Journal. Robin Gordon of Berkshire Hathaway HomeServices and her team, the Robin Gordon Group, kicked off the year…
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Center City Tower Goes On the Market, Sale Could Indicate Worth of Philadelphia Office Buildings
The 2000 Market Street building in Center City, which is currently owned by New York-based owner Nahla Capital, is now up for sale, writes Paul Schwedelson for the Philadelphia Business Journal. The eventual sale could go a long way toward indicating how much Philadelphia office buildings are worth in this post-pandemic environment. It remains to…
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