Real Estate
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Philadelphia is a Top 5 Metro City If You Are Looking to Buy a Starter Home
In half of the 50 most populous metro cities in the United States, a starter home isn’t affordable for a household making the local median income; however, Philadelphia is in the top five most affordable markets for starter homes, writes Michaelle Bond for The Philadelphia Inquirer. This is according to a new Redfin analysis. The…
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House of the Week: Magnificent Traditional in Mount Airy
A magnificent traditional home on 0.98 attractive acres with seven bedrooms and five full and two half bathrooms is available for sale in Mount Airy. This stunning residence originally designed by Robert McGoodwin in 1919 has been beautifully renovated and thoughtfully updated while still maintaining its classic charm. . . Highlights include the grand front-to-back…
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Philadelphia’s Aion Partners, Goldman Sachs’ Vintage Strategies Team Up for New Real Estate Venture
Philadelphia-based apartment owner Aion Partners has joined forces with Vintage Strategies at Goldman Sachs Alternatives and a global sovereign investor for a new $1 billion joint venture to acquire value-add apartments, writes Paul Schwedelson for the Philadelphia Business Journal. An additional $700 million will go toward renovating approximately 4,000 units at its Mid-Atlantic properties. Aion…
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Philadelphia Industrial Tenants Are Facing Some of the Highest Rent Hikes in the Nation
Philadelphia’s industrial real estate market is one of the top three in the nation among the 15 largest U.S. industrial markets for sustained rent growth, writes Brenda Nguyen for CoStar. Philadelphia has saw culminative gains of 57.6 percent industrial rent growth in the past five years, trailing only Phoenix (62.7 percent) and Atlanta (59.4 percent).…
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House of the Week: Gorgeous Traditional in Roxborough
A gorgeous traditional home set on a lovely 3,960-square-foot lot with four bedrooms and three full and two half bathrooms is available for sale in Roxborough. This beautiful residence offers luxurious living with thoughtful craftsmanship, modern upgrades, and abundant parking. . . Highlights include a skylit vaulted ceiling foyer, family room with a marble gas…
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TikTok Star Loren Gray Shares the Struggles of Owning a 300-year-old Pennsylvania Farmhouse
TikTok star and Pottstown native Loren Gray has shared insights into her life since moving into a 300-year-old, formerly abandoned farmhouse in Pennsylvania, writes Marianne Garvey for Realtor.com. In 2022, she purchased the property which had been neglected for years until a contractor restored it. Gray expressed admiration for maintaining the house’s historical integrity, calling…
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Former Gretz Brewery Site in Olde Kensington Listed for $6.6M, New Plan to Build 200 Apartments Emerges
The former Gretz Brewery building in Olde Kensington has been listed for $6.6 million, and a Conshohocken developers is seeking approval to build 200 apartments in advance of a potential sale, writes Ryan Mulligan for the Philadelphia Business Journal. In 2019, the Rufo Companies, which owns the historic property received permits to redevelop the property…
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House of the Week: Charming Traditional in Spruce Hill
A charming and stately traditional home with four bedrooms and three and a half bathrooms is available for sale in Spruce Hill. . . Originally designed by the renowned Philadelphia architect Horace Trumbauer, this lovely residence was part of a grander mansion, one of the most significant homes in the city. It features four floors…
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Spacious Rittenhouse Square Rowhome, Former Italian Consulate, Hits Market for $2.5M
A colossal Rittenhouse Square rowhome, which was formerly the Italian Consulate during the mid-20th century, has been listed for $2.5 million with approved plans to convert it into a multifamily building, writes Ryan Mulligan for the Philadelphia Business Journal. The 10,700-square-foot Locust Street property was constructed in 1898. It is currently set up as a…
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New $24M ‘Gateway’ Project Brings 100-Plus Apartments to Fishtown
A Conshohocken-based developer has delivered a new project that brings 105 residential units to Fishtown, writes Ryan Mulligan for the Philadelphia Business Journal. The Isaac, as the unit is called, is nestled against the Berks Street SEPTA station, and sits on the border of Fishtown and Norris Square. The project also features 6,500 square feet…
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Toll Brothers’ Collegeville Homes to be Among Largest in Philadelphia Region
Toll Brothers, the Fort Washington-based luxury homebuilder, is developing 55 high-end homes on 57 acres in Collegeville, reports Paul Schwedelson for the Philadelphia Business Journal. This upscale community is situated at 4037 MacCormack Way between Evansburg State Park and Ursinus College. It will feature single-family estate homes ranging from 3,500 to over 4,650 square feet.…
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Dorrance Hamilton Hall Hits Market, Represents Prime Opportunity for Developers
With the sale of the real estate portfolio belonging to the late University of the Arts, a trophy property on the Avenue of the Arts has hit the market, offering a prime opportunity for developers, writes Sandy Smith for Philadelphia Magazine. Dorrance Hamilton Hall previously housed the university’s administration and some of its students. The…
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Historic Cadwalader Mansion in Rittenhouse Square Hits Market for $4.625M
Cadwalader Mansion, a Rittenhouse Square home that once served as the French Consulate, recently hit the market for $4.625 million, writes Ryan Mulligan for the Philadelphia Business Journal. This 5,800-square-foot home, featuring five bedrooms and eight bathrooms, sits on an oversized 22-by-150-foot lot, one of the largest in the neighborhood. This provides ample space for…
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New 255-Unit Luxury Tower Opens in Center City
Southern Land Co. recently opened a new 255-unit, 27-story luxury tower in Center City, writes Claudiu Tiganescu for Multi Housing News. RBC Bank issued a $112 million construction loan in 2022, according to Yardi Matrix data. That same year, the developer broke ground on the tower and topped out in 2023. The new luxury tower,…
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House of the Week: Stunning Brick-Front Contemporary in Queen Village
A stunning brick-front contemporary home on an attractive 1,072-square-foot lot with three bedrooms and three full and two half bathrooms is available for sale in Queen Village. This beautifully appointed residence perfectly combines modern comfort with classic charm. It welcomes you with a lovely foyer that has built-in cabinets and offers access to the garage.…
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Have a $1 Million House Budget? Here’s What It Can Get You in Philadelphia
As home prices continue to rise across the Greater Philadelphia region, having a seven-digit budget isn’t getting you as far as it would in the past, writes Ryan Mulligan for the Philadelphia Business Journal. In Philadelphia, homebuyers with $1 million can purchase a fairly new townhome or luxury condo in a prime location. There is…
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House of the Week: Striking Colonial in Somerton
A striking colonial set on a lovely 0.6-acre lot with four bedrooms and four and a half bathrooms is available for sale in Somerton. The home welcomes you with its grand front-to-back foyer that opens to a large living room with a fireplace on the left, and a family room with a fireplace on the…
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New York Developers Push Ahead With First Phase of 1,000-Unit West Philly Housing Development
Two New York developers are pushing ahead with the first phase of their plan to renovate and build a 1,000 residential units in West Philadelphia, writes Paul Schwedelson for the Philadelphia Business Journal. The plan would create a major mixed-income housing development on a long blighted and vacant 12-acre site next to Drexel University’s Vidas…
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