Real Estate
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Zillow Ranks Greater Philadelphia Among Top Five Housing Markets for 2025
Greater Philadelphia ranked on Zillow’s top 5 housing markets for 2025, coming in fifth among the nation’s 50 most populous metro areas, writes Michaelle Bond for The Philadelphia Inquirer. The region’s housing affordability compared to nearby markets, combined with low inventory and high demand, makes the Philadelphia metro area one of the most competitive markets…
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Essington Hotel Near Philadelphia Airport Changes Hands After $10M Sale
The Wyndham Garden Philadelphia Airport hotel in Essington near Philadelphia International Airport has a new owner and a new name following a $10 million sale, writes Emma Dooling for the Philadelphia Business Journal. The 308-room hotel at 45 Industrial Highway is now known as the Quality Hotel Philadelphia International Airport. In addition to rooms, the…
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Chester Parcel Survey Data Paves the Way for Redevelopment
A survey of 13,828 properties in Chester shows that 92 percent of the city’s parcels are blight-free. The findings come from a city-wide parcel condition survey conducted by the city of Chester in collaboration with Cyclomedia. The survey and its data is a key step toward revitalizing Chester’s neighborhoods as it attracts investments and enhances…
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Rental Prices Are Going Up Regionally, But Philadelphia One-Bedroom Rentals Are Cheaper
If you are trying to rent a place in Philadelphia, you’ll likely get some cost relief, but trying to do the same in most other major cities will be more difficult, writes Isaac Avilucea for AXIOS Philadelphia. In 2024, Philadelphia welcomed a big number of new apartment units throughout the city. According to a RealPage…
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Curtis Institute of Music Wins Bid for Art Alliance Building
The Curtis Institute of Music will take ownership of the Art Alliance building after outbidding Temple University for the property that was previously owned by the closed University of the Arts, write Susan Snyder, Peter Dobrin, and Jake Blumgart for The Philadelphia Inquirer. The institute bid $7.6 million at a live auction conducted on Tuesday…
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Macy’s Set to Close Store Inside Iconic Center City Building in March
Macy’s recently announced plans to close its 435,000-square-foot store inside the historic Wanamaker building this coming March, writes Paul Schwedelson for the Philadelphia Business Journal. This location will be one of 65 others across the nation as part of Macy’s larger plan to shut down 150 stores through next year. During a press conference, city…
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Philadelphia Housing Authority Acquires West Philly Apartment Tower, Plans Affordable Housing Units
The Philadelphia Housing Authority has paid $51 million for the Dane apartment tower in West Philadelphia with plans to allocate nearly half of the units for affordable housing, writes Paul Schwedelson for the Philadelphia Business Journal. The price for the 17-story, 233-unit building comes out to $219,000 per unit — roughly half the cost of…
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House of the Week: Gorgeous Contemporary in Mount Airy
A gorgeous contemporary home that is set on a lovely 7,547-square-foot lot with five bedrooms and three and a half bathrooms is available for sale in Mount Airy. This stunning residence seamlessly blends thoughtful design with modern luxury. Its intricate details include custom millwork and allowances for built-ins throughout, that ensure an organized and elegant…
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Newtown Square Home Moves Out of the 1970s but Keeps Its Charm
Sam and Amanda Kirk found the perfect midcentury modern ranch house in Newtown Square to move to from Jersey City in 2019. “We wanted to be closer to family and take advantage of these wonderful schools,” said Sam, owner of the Jersey City cafe Sam a.m. “We have always been drawn to modern, clean spaces.”…
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One of Center City’s Biggest Property Owners Seeking to Buy UArts Building for $6.5M
Real estate mogul Allan Domb, one of Center City’s largest property owners, is looking to buy one of the former University of the Arts buildings for $6.5 million, write Susan Snyder and Jake Blumgart for The Philadelphia Inquirer. If his bid is approved by the court, the former Philadelphia City Council member and mayoral candidate…
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Fort Washington Developer Purchases 61-Acre Newtown Site for $6.98M to Build 45 Single-Family Homes
Fort Washington-based Toll Brothers has paid $6.98 million for a 61-acre Newtown site where it plans to build 45 single-family homes, writes Paul Schwedelson for the Philadelphia Business Journal. The undeveloped site is located at 107 Twining Bridge Road, next to All Saints Cemetery. It was acquired from Philadelphia Catholic Cemeteries, part of the Archdiocese…
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South Philly Politics Hub, Event Space Galdo’s Catering Sold to SEPTA for $3.34M
Galdo’s Catering & Entertainment, which has been a South Philadelphia staple for the last 25 years, has been sold to SEPTA for $3.34 million, writes Jake Blumgart for The Philadelphia Inquirer. Galdo’s had been a hub for neighborhood events, as well as a popular event hall for politicians rallying supporters and raising funds. “Most of…
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Philadelphia Now Ranks Among Zillow’s Top Five Hottest Housing Markets for 2025
Greater Philadelphia has climbed six spots from last year to rank as the nation’s fifth hottest housing market for 2025, according to Zillow, writes Ryan Mulligan for the Philadelphia Business Journal. Local real estate experts believe that the current year could bring back some semblance of normality to the Philadelphia-area real estate market following a…
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House of the Week: Amazing Contemporary in Manayunk
An amazing contemporary home set on a lovely 2,240-square-foot lot with three bedrooms and three and a half bathrooms is available for sale in Manayunk. This stunning residence offers a modern and luxurious living experience and contains many impressive details such as hardwood floors, sleek finishes, and large windows that flood the space with natural…
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Homes in Philadelphia Region Were Slightly More Affordable Last Year, But Still Too Pricey for Many
Buying a home in the Philadelphia region last year was slightly more affordable than in 2023, but prices were still too high for many potential buyers, writes Michaelle Bond for The Philadelphia Inquirer. While home prices were lower in the region than across the country as a whole, 2024 was still the second-least affordable year…
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Luxury West Chester Estate For Sale at $10.8 Million One of the Most Remarkable in Area
A contemporary West Chester mansion is one of the most remarkable properties currently for sale in the area, writes Sandy Smith for Philadelphia Magazine. The estate, located at 1256 S. Creek Road in West Chester, was built in 2007 and contains nearly 24,000 square feet of indoor space. In addition to its five bedrooms and…
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Mitchell & Ness Nears Deal to Move Flagship Store in Center City
Mitchell & Ness, the vintage sports apparel retailer, is in the process of likely moving its flagship Center City store to the other side of Broad Street, writes Emma Dooling for the Philadelphia Business Journal. While the retailer has not disclosed the exact location for the new store, industry sources said Mitchell & Ness is…
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King of Prussia’s Westover Buys New York Real Estate Portfolio for $94.5M
King of Prussia-based Westover recently purchased a multifamily real estate portfolio in New York for $94.5 million from Black Spruce Management, writes Paul Schwedelson for the Philadelphia Business Journal. The 98,000-square-foot, 147-unit portfolio consists of 13 properties in Manhattan’s Chelsea neighborhood, between West 19th and West 29th streets. The properties average five stories. The acquisition…
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