Real Estate
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House of the Week: Lovely Cape Cod in Torresdale
A lovely Cape Cod home set on an attractive 9,750-square-foot lot with five bedrooms and two bathrooms is available for sale in Torresdale. This beautiful stone-front residence boasts a sun-drenched first floor with a large living room that features hardwood floors and a fireplace. The dining area has a charming eat-in kitchen with an island…
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New 360-Unit Residential Tower, The Noble, Opens in Northern Liberties
The Noble, a new 13-story, 360-unit residential tower on Spring Garden, recently celebrated its grand opening on June 27. The new tower is part of a longstanding partnership between National Real Estate Advisors and Kushner Real Estate Group. “This project is the first of a series of projects between Spring Garden Street and Callowhill Street,” said Daniel…
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Center City Building Sold at Deep Discount for $11.5 Million
The 15-story Center City building at 1760 Market Street recently sold at a deeply discounted price of $11.5 million to an undisclosed private investor, writes Paul Schwedelson for the Philadelphia Business Journal. The sale price of the 133,353-square-foot office building located in the heart of the central business district is a 63 percent decrease from…
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Apartments in Philly Are Shrinking, Which Can Have a Major Impact on the City’s Demographics
The average size of Philadelphia apartments are among the smallest in the nation, and are projected to become even smaller with the current pipeline of multifamily construction, writes Ryan Mulligan for the Philadelphia Business Journal. According to a report from RentCafe, Philadelphia’s average new apartment size is 764 square feet. This is the ninth-smallest in…
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House of the Week: Gorgeous Stone Traditional in Mount Airy
A gorgeous 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 stone residence was designed by Robert McGoodwin in 1919 and has since been thoughtfully renovated to reflect a modern lifestyle while staying true to its historic roots. .…
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GY Properties Opens First Phase of 500-Unit Apartment Development Project Near the Delaware River
GY Properties, a Philadelphia-based developer, has significantly expanded its footprint in Fishtown by opening the first phase of its latest project near the Delaware River, writes Paul Schwedelson for the Philadelphia Business Journal. The first phase of the project, Five on Canal, features three apartment buildings totaling 264 units. The first two buildings have already…
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American Red Cross Center City Building Goes Up for Sale, Conversion Likely
A five-story Center City West office building currently owned by American Red Cross is going up for sale, writes Paul Schwedelson for the Philadelphia Business Journal. The 52,676-square-foot building was most recently assessed by the city at $12.2 million. It being on the market presents another conversion opportunity in an area of Philadelphia that has…
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House of the Week: Exceptional Stone Colonial in Oxford Circle
An exceptional colonial set on 0.38 lovely acres with seven bedrooms and three bathrooms is available for sale in Oxford Circle. This attractive residence features a thick stone facade along with two lion sculptures guarding the entry steps. . . The many stunning details throughout the home include hardwood flooring, decorative Mahogany woodwork, inlays, and…
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Philadelphia Developers Purchase Two Old City Buildings in Joint Venture
Lubert-Adler Real Estate Funds and Keystone Development and Investment, two Philadelphia developers, are finalizing a deal to purchase two Old City buildings, writes Paul Schwedelson for the Philadelphia Business Journal. The two buildings are the 10-story Bourse building and the 12-story 400 Market Street building, respectively. Once finalized, the developers plan to convert the neighboring…
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Norristown Reviewing Proposal for Mixed-Use Development On 68-Acre Site Next to State Hospital
Norristown is currently reviewing a proposal to build a mixed-use complex on a 68-acre site near the Norristown State Hospital that promises to be the borough’s largest-ever development of its type, writes Kevin Riordan for The Philadelphia Inquirer. The $300 million Preserve at Stony Creek would have townhouses, apartments, stores, flex space, and a public…
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House of the Week: Picturesque Colonial in Mount Airy
A picturesque colonial home set on 1.03 lovely acres with six bedrooms and four full and two half bathrooms is available for sale in Mount Airy. Perched on a hill, Dunning House is a stunning circa 1890 residence designed by renowned Philadelphia architect Frank Miles Day. . . The highlights include a grand foyer with…
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House of the Week: Attractive Colonial in Pine Valley
An attractive colonial home set on a lovely 0.52-acre lot with six bedrooms and four and a half bathrooms is available for sale in Pine Valley. This lovely residence is just seven years old and boasts around 5,000 square feet of living space and an open floor plan that is ideal for entertaining. . .…
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Historic North Wales Property Once Owned By William Penn Goes Up For Sale For $7M
Joseph Ambler Inn, a historic property once owned by William Penn, has gone onto the market for $7 million, writes Justin Heinze for Patch. The property has roots that trace all the way back to the pre-Revolutionary War colonial era. The Inn, which has a hotel, tavern, restaurant, and other operations, is not shutting down.…
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New High-end Residential Project Likely Replacing Two Center City Buildings
Two buildings on Chestnut Street owned by the Philadelphia Federation of Teachers and the former site of Freeman’s auction will likely be the site of a new residential project, writes Jake Blumgart for The Philadelphia Inquirer. The plan calls for a high-end condo-and-rental building with fewer than 100 units. The Philadelphia Federation of Teachers recently…
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House of the Week: Beautiful Traditional in Millbrook
A beautiful traditional home on 0.28 lovely acres with four bedrooms and two and a half bathrooms is available for sale in Millbrook. The home impresses immediately with its spacious living room that features a gas fireplace and gorgeous hardwoods. . . Other highlights include a chef’s kitchen with a large island with seating, granite…
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Rapidly Growing Warehouse Space Reshaping Jobs, Traffic, and Landscapes in Philadelphia Region
In the last four years, the demand for warehouse space has resulted in 55 million square feet of related industrial real estate being added in the Philadelphia area, write Frank Kummer, Kevin Riordan, Jake Blumgart, Joseph N. DiStefano, and Erin McCarthy for The Philadelphia Inquirer. The nine-county Philadelphia region now has 188 warehouses bigger than…
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Philadelphia is One of the 50 Most Coveted Cities For Renters, New Study Finds
RentCafe has released its first rental activity report of the year, ranking the top 150 U.S. cities based on renters’ intent to move. Philadelphia found itself among the top 50 of the list, finishing at No. 49, due to its high rental activity in January. Views of available Philadelphia rent listings increased by 71 percent…
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House of the Week: Stunning Stone Colonial in Wynnefield
A stunning stone colonial home with six bedrooms and four full and two half bathrooms is available for sale in Wynnefield. This magnificent three-story residence has a fully fenced 0.6-acre lot backing up to Bala Golf Club. . . Highlights include a grand center hall foyer with a beamed ceiling and intricate picture and chair…
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