Real Estate
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Greenwood Racing Buys Two Office Buildings by Parx Casino for $12.5 Million
Greenwood Racing Inc., the owner of Parx Casino, has expanded its real estate holdings with the acquisition of two office buildings near its Bucks County gaming hub for $12.5 million, writes Emma Dooling for the Philadelphia Business Journal. Purchased in February, the buildings at 3329 and 3331 Street Road in Bensalem are part of…
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Former Phillie Ryan Howard Re-Lists Rittenhouse Square Condo With 24% Price Drop
Ryan Howard, who spent his entire 13-year MLB career with the Philadelphia Phillies, has put his condo back on the market with a 24% less asking price than when it was originally listed in January 2020, writes Ryan Mulligan for the Philadelphia Business Journal. Howard’s Rittenhouse Square condo has been on and off the market…
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Odin Properties Opens New Residential Development in Harrowgate
Odin Properties, the leading Philadelphia-based real estate company, has unveiled Collins Lofts, a new 86-unit residential development in the Harrowgate neighborhood. Collins Lofts replaces the site of Tioga Mills, one of the largest textile manufacturers during the turn of the 20th century, which had been functionally obsolete and vacant for decades before Odin purchased it.…
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House of the Week: Exquisite Colonial in Wynnefield
An exquisite colonial home with six bedrooms and four and a half bathrooms is available for sale in Wynnefield. This lovely residence boasts 3,338 square feet of living space and offers the perfect blend of elegance and comfort. It has been designed to meet all aspects of contemporary lifestyle. . . Highlights include an inviting…
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Maryland Hospitality Company Reopens Long-shuttered Fort Washington Hotel
After acquiring it for $11.05 million last year, Baywood Hotels, a Maryland hospitality company, has reopened the long-shuttered Hilton Garden Inn Philadelphia/Fort Washington, writes Emma Dooling for the Philadelphia Business Journal. The 146-room hotel has been closed for at least two years, following a hurricane that severely damaged the property. Baywood Hotels finally reopened it…
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Bryn Mawr-based Alliance HP Buys Two Montgomery County Properties for $23.1M
Bryn Mawr-based real estate firm Alliance HP has purchased two properties in Montgomery County – one industrial building and one office building – for a total of $23.1 million, writes Paul Schwedelson for the Philadelphia Business Journal. The company bought a 143,000-square-foot fully vacant office building in Plymouth Meeting for $11.3 million. Alliance HP is…
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Property in Hamptons Purchased By Gladwyne Real Estate Developer For $118.5M in 2021 Hits Market Again For $99.5M
A Hamptons compound purchased by Gladwyne real estate developer Michael Karp for $118.5 million in late 2021 is once again on the market now for $99.5 million, writes Zachary Kussin for the New York Post. The property consists of two homes located at 70 and 71 Cobb Lane, the priciest residential property for sale in…
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Bucks County Historical Society Plans Sale of Hart Property for New Housing Development
The Bucks County Historical Society has unveiled plans to sell a 24-acre parcel known as the Hart property in Doylestown Township, writes Chris Ullery for the Bucks County Courier Times. The proposed sale to Zaveta Custom Homes could lead to the development of a 36-unit housing project. This initiative aims to provide financial support for…
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Historic Ambler Estate with Gardens Archived in Smithsonian Hits Market for $5.39 Million
A historic 14-acre estate in Ambler with a riding arena, three livable structures, and stunning gardens that have been archived in the Smithsonian recently hit the market for $5.39 million, writes Ryan Mulligan for the Philadelphia Business Journal. Tunnel Farm, owned by Andrea and Brad Heffler, dates back to 1742. The main house features four…
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House of the Week: Gorgeous Craftsman in Chestnut Hill
A gorgeous craftsman home set on 0.71 attractive acres with four bedrooms and four full and two half bathrooms is available for sale in Chestnut Hill. This beautiful residence boasts many stunning details, including big windows, numerous exterior doors, and natural finishes. . . Highlights include a light-filled reception hall with access to the back…
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Developers Behind Town Center Project Accuse New Hanover Township of Racially Motivated Plot to Prevent People of Color from Moving Into Area
RP Wynstone and a group of landowners in New Hanover are accusing township officials of a racially motivated plot to prevent people of color from relocating to the area, writes Kenny Cooper for WHYY. The developer and the group of landowners filed a federal lawsuit against the township, seeking an unspecified amount of damages for…
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After 10 Months on the Market, Rittenhouse Square Penthouse Sells For $2 Million
A nearly century-old Rittenhouse Square penthouse with a 60-foot terrace has sold for 39 percent under its initial asking price after 10 months on the market, writes Lisa Dukart for the Philadelphia Business Journal. Named, “the Crown,” the 19th-floor penthouse was sold to an undisclosed buyer for $2 million. Despite the reduced rate, the listing…
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Historic Firehouse in Olde Kensington Converted Into Apartment Building
The historic firehouse in Olde Kensington has been converted into a 29-unit apartment building with a commercial space, writes Michael Tanenbaum for the Philly Voice. The three-story building was built in 1895 and is recognized for its architectural significance. Designed by architect John T. Windrim, it was originally the home of Engine Co. No. 29.…
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New Residential Tower Proposal Could Bring Up to 600 Units Near Family Court Building in Center City
The Family Court building and neighboring surface parking lot near Ben Franklin Parkway could soon be the space of a new residential tower, writes Paul Schwedelson for the Philadelphia Business Journal. National Real Estate Development and Frontier Development & Hospitality Group have begun the planning process three months after winning the bid to develop the…
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House of the Week: Attractive Victorian in Tacony
An attractive Victorian home set on a picturesque lot with seven bedrooms and five bathrooms is available for sale in Tacony. Thanks to its timeless architecture, this exquisite 4500-square-foot residence effortlessly merges classic elegance with luxury. . . The property immediately impresses with its meticulously landscaped grounds and vibrant gardens, as well as a lovely…
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Philadelphia Now Among Top 10 Most Sought-After Cities For Apartment Renters
Thanks to a soar in rental activity in February, Philadelphia is now among the 10 most sought-after cities for renters, writes Ryan Mulligan for the Philadelphia Business Journal. According to the newest monthly report from RentCafe, which measures website traffic for listings in the 150 largest cities in the U.S., Philadelphia jumped 42 spots from…
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Optimism or Caution? How Do Germantown Residents Feel About the Rise of Residential Development?
Toward the end of 2023, Odin Properties cut the ribbon on two modern apartment buildings on Germantown Avenue, and residents have thoughts about this and the rise of residential development in the neighborhood, writes Aaron Moselle for WHYY. For decades, few private developers wanted to invest in Germantown. That is no longer the case, as…
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Bucks County’s Most Expensive Homes: Inside the $6.9 Million Upper Makefield Mansion
The record for Bucks County’s priciest residential sale was set last year with a $6.5 million transaction for a home on Meetinghouse Road in New Hope, rumored to be acquired by actor Bradley Cooper, writes JD Mullane for the Bucks County Courier Times. Currently, a lavish 19,000-square-foot mansion in Upper Makefield, priced at $6.9…
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