Real Estate
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Philadelphia Developer Acquires Center City Site from Parkway Corporation
A Center City site has transferred ownership from Parkway Corp. to a Philadelphia developer, writes Paul Schwedelson for the Philadelphia Business Journal. The sale effectively puts an end to the former’s halted plans to construct a new, multifamily project there The site, which was purchased by local real estate developer Ryan Kalili, co-founder of Archive…
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New Industrial Warehouse Coming to Northeast Philadelphia After Dallas Real Estate Firm Purchase
Crow Holdings Development is planning to build a 150,000-square-foot industrial building on a 14.4-acre Northeast Philadelphia site it recently acquired for $8 million, writes Paul Schwedelson for the Philadelphia Business Journal. The Dallas real estate investment firm purchased the site from the Philadelphia Authority for Industrial Development, which is a subsidiary of Philadelphia Industrial Development…
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WSJ: Private-Equity Firm, Developer to Convert Wanamaker Building Into a Residential Complex
Dune Real Estate Partners, a private-equity firm, and developer TF Cornerstone have teamed up to convert Philadelphia’s Wanamaker Building into a residential complex, writes Peter Grant for The Wall Street Journal. The partnership is part of a country-wide trend of converting office spaces into residential buildings, as office vacancy rates continue to increase and property…
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House of the Week: Lovely Traditional in Bustleton
A lovely traditional home set on an attractive 6,732-square-foot lot with three bedrooms and two and a half bathrooms is available for sale in Bustleton. This charming residence offers approximately 2,088 square feet of comfortable living space. The inviting main level features a generous living room, refined dining area with a seamless flow for gatherings,…
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Hallahan High School’s Former Center City Campus Sells For $15M, Belmont Charter Plans Move
The former campus of John W. Hallahan Catholic Girls’ High School in Center City has been sold to an entity tied to the chairman of Belmont Charter Network for $15 million, writes Ryan Mulligan for the Philadelphia Business Journal. This comes right when Belmont Charter High School plans to move into the property at 19th…
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This Philadelphia ZIP Code Features Nearly One-Quarter of Homes Built in the City Last Year
Philadelphia witnessed a record 8,000 homes built throughout the city in 2024, and while many different neighborhoods got in on the housing increase, one felt it much more than the rest, writes Michaelle Bond for The Philadelphia Inquirer. About 3,000 of the aforementioned new homes were built in the Greater Center City area, increasing the…
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House of the Week: Stunning Bi-Level Apartment in Old City
A stunning bi-level apartment with three bedrooms and two and a half bathrooms in an upscale boutique residential building is available for sale in Old City. The Ben — as the building is called — boasts Juliet balconies, roof decks, covered parking (one deeded parking space and one leased parking space are included with the…
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Philadelphia Seeing Historic Surge in Multifamily Developments Throughout the City
Philadelphia is currently experiencing a historic surge in multifamily development, with over 13,000 units under construction throughout the city, writes Paul Schwedelson for the Philadelphia Business Journal. In 2021, developers raced to get multifamily projects approved to take advantage of low-interest rates and the city’s readiness to scale back its ten-year tax abatement for new…
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A Goldilocks Moment: Living in the Neighborhood of Haverford
The neighborhood of Haverford is your sweet spot for living in the Philadelphia region. It’s close to everything, but still far enough away to offer tranquility, writes Sandy Smith for Philadelphia Magazine. This peaceful suburb is nestled in Haverford College territory and there’s a Regional Rail station nearby. Compass realtors Leigh Anne and Frank Ambrose…
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After Historic 2024, Center City’s Housing Boom Expected to Drop Drastically This Year
Center City saw a record amount of housing production in 2024, but that pace is expected to drop considerably this year, writes Paul Schwedelson for the Philadelphia Business Journal. A number of developers began angling to receive permits before the 10-year tax abatement and low interest rates were scaled back by the end of 2021.…
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Joel Embiid’s Old City Penthouse Hits Market Again With Another Major Price Cut
A 3,500-square-foot bi-level penthouse in Old City, owned by Philadelphia 76ers star Joel Embiid, is back on the market with an almost 30 percent price drop, writes Ryan Mulligan for the Philadelphia Business Journal. The 101 Walnut St. unit is listed for $3.9 million. The property was originally priced at $5.5 million in December 2023,…
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House of the Week: Charming Cape Cod in East Falls
A charming cape cod home set on a lovely 6,570-square-foot lot with three bedrooms and two bathrooms is available for sale in East Falls. This delightful residence offers a harmonious blend of comfort and convenience. Hardwood floors, a cozy fireplace, and large windows that bring in natural light are just a few of the many…
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Keystone Begins Transformation of Plymouth Meeting Mall Office into Luxury Apartments
Keystone Development + Investment began converting a long-vacant office building next to the Plymouth Meeting Mall into a modern residential community, writes Kevin Tierney for More Than the Curve. The project, named Monarq, will feature 150 apartment units and recently received conditional use approval from Plymouth Township. According to Keystone’s website, the original 1970 structure…
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Pair of Prime Fishtown Commercial Properties with Redevelopment Potential Sell for Combined $17.2M
Two prime commercial properties in Fishtown with redevelopment potential recently fetched a combined $17.2 million in a recent sale, writes Paul Schwedelson for the Philadelphia Business Journal. The site that is home to Other Half Brewing sold for $10 million, while an industrial property located at 53-67 Laurel Street went for $7.2 million. The adjacent…
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Toll Brothers CEO Pays Tribute to Founders and Philadelphia
Toll Brothers CEO Douglas C. Yearley Jr. credits the company’s enduring success to the values instilled by its co-founder, Bruce E. Toll, writes Kevin Riordan for the Philadelphia Inquirer. “This company was founded on grit, and on being smarter and working harder than anyone else,” Yearley said. “That speaks to how Bob and Bruce were…
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Influx of Celebrities Driving Real Estate Prices Up in New Hope
Celebrities flocking to New Hope are driving up real estate prices, making it unaffordable for many who had hoped to call this quiet hot spot home, writes Julie Gerstein for Realtor.com. The interest in New Hope is partly due to its location, which is roughly halfway between New York City and Philadelphia. People are also…
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Nearly 200-Acre Elk Creek Farm in New Hope Hits Market for $10.5M
Elk Creek Farm in New Hope, with pre-Revolutionary War roots, has recently hit the market for $10.5 million, making it the most expensive individual property in the current Bucks County housing market, writes Ryan Mulligan for the Philadelphia Business Journal. The property, which totals 188 acres, was part of the original William Penn land grant.…
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See Which Philadelphia ZIP Codes Were Among Hottest Housing Markets in Region During Fourth Quarter of 2024
Four Philadelphia ZIP codes were among the hottest housing markets in the region for the fourth quarter of 2024, according to Intercontinental Exchange data, writes Ryan Mulligan for the Philadelphia Business Journal. ZIP code 19102 topped the list with an average list price of $1,132,618 and an average sale price of $784,054. The Center City…
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