Real Estate
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New York Developer Proposes Massive Warehouse Complex at Former Philadelphia Inquirer Printing Plant
DH Property Holdings, a New York developer, last week submitted plans to build a 746,240-square-foot warehouse complex at the site of the former Philadelphia Inquirer printing plant in Upper Merion, writes Paul Schwedelson for the Philadelphia Business Journal. The plans detail the building of two industrial buildings on the 46.3-acre site that the real estate…
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Children’s Author Selling Her Massive Bucks County Estate for $14.5 Million
A wealthy couple in the Bucks County area is selling a major estate in the area for a hefty price, and it is one of the best homes in the region. Sarah Paynter wrote about the estate for The Wall Street Journal. Children’s book author Cheryl Olsten, along with her husband, financial adviser Steven Grabowski,…
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House of the Week: Gorgeous Stone Twin Traditional in Chestnut Hill
A gorgeous stone twin traditional home with four bedrooms and three bathrooms is available for sale in Chestnut Hill. This spacious residence was designed by renowned architect, Samuel W. Marshall in 1924. It is surrounded by beautifully landscaped front and rear gardens that are adorned with many perennials, trees, and shrubs. Highlights include a sunlit…
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Rental Improvement Fund to Help Hundreds of Small Landlords in Philadelphia Fix Up Their Properties While Keeping Units Affordable
A new, city-wide Rental Improvement Fund aims to help stabilize Philadelphia’s stock of affordable housing by providing forgivable and low-interest loans to small landlords to make needed repairs to their properties while keeping rents reasonably priced, writes Aaron Moselle for the WHYY. The $9 million program offers ten-year forgivable loans of up to $24,999 per…
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House of the Week: Unique Contemporary Home in Logan Square
A lovely and unique contemporary home with three bedrooms and four bathrooms is available for sale on Spring Street in Logan Square. This gorgeous residence is perfectly nestled on a tree-lined block and offers an ideal blend of tranquility of suburban living as well as access to everything the city has to offer. . .…
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House of the Week: Elegant Federal-style Home in Picturesque Setting in Chestnut Hill
An elegant Federal-style home set on a lovely 0.47 acres with four bedrooms and four and a half bathrooms is available for sale in Chestnut Hill. Perfectly nestled in a picturesque setting, the residence is just a short walk to the historic downtown Chestnut Hill. . . Highlights include an oversized living room with a…
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Owner of Historic Office Building in Center City Mulls Converting It to Apartments
Baycrest Properties & Management, which owns the western side of the Public Ledger building, is considering converting the office space into multifamily rental housing, writes Jake Blumgart for The Philadelphia Inquirer. The ground floor, occupied by the Center City District, is the only part of the building that is owned by the New York-based company…
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House of the Week: 7,700 Square Feet in Chestnut Hill with Amazing Views of Wissahickon Valley Park
A beautiful traditional home on one lovely acre with six bedrooms and five full and two half bathrooms that spans 7,700 square feet is available for sale in Chestnut Hill. . . This truly magical property was originally designed by Brockie and Hastings and later expanded by Tilden and Pepper, two of the city’s most…
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Landmark Properties Proposes Apartment Building for Broad Street Near Temple University’s Campus
Landmark Properties, a national student housing developer, wants to build a 28-story apartment tower on Broad Street near Temple University, writes Jake Blumgart for The Philadelphia Inquirer. The building would have 142 multifamily units and 147 group-living units aimed at roommate accommodations. The developer also plans to provide 78 underground parking spaces and 21,079 square…
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Brandywine Realty Trust Hits Pause, Decides to Wait for Pre-Leases Before Starting Third Schuylkill Yards Tower
Philadelphia-based Brandywine Realty Trust is not going to start construction on the planned third tower at Schuylkill Yards on speculation, writes Paul Schwedelson for the Philadelphia Business Journal. The real estate company is relaunching marketing efforts for the planned East Tower that would join the two existing buildings, but it will wait until the building…
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Once-mighty SS United States Faces Eviction From Its South Philly Home
The SS United States, built in the 1950s to showcase American ingenuity and strength, has called South Philadelphia its home for over a quarter-century, writes Hajii Brown for NewsBreak. This once-mighty symbol of American engineering prowess now finds itself in an eviction showdown as it continues to remain anchored on the Delaware River, across from…
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Phillies Slugger Pat Burrell’s Former Center City Penthouse Hits Market Again, Price Drops By Over a Million
A penthouse in Center City previously owned by former Philadelphia Phillies slugger Pat Burrell is once again up for sale at another reduced price, writes Ryan Mulligan for the Philadelphia Business Journal. The home at 1601 Locust Street is being offered for $3.25 million. It was listed in March 2022 for $4.299 million and reduced…
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House of the Week: Stunning Full-floor Society Hill Condo with Amazing Views Hits Market for $7M
A stunning full-floor condo in the Society Hill neighborhood with floor-to-ceiling windows that offer open views of the Independence Hall and the Delaware River recently hit the market, writes Bill Cary for Mansion Global. The 15th-floor apartment is located in the 26-story 500 Walnut tower that was completed six years ago. The seller acquired the property…
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Tom Garvey of Ridley Park Had a Sweet Apartment at the Vet, and the Rent Was Great
Tom Garvey is a former Ridley Park native now living in Ambler, but for a time, he and the Philadelphia Phillies had the same address. Apparently, it was very easy to hide at the former Veterans Stadium, writes Dave Uram for KYW Newsradio. Tom Garvey, now 80, lived in a converted storage room under the…
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Philadelphia’s Hersha Hospitality Trust Goes Private in $1.4 Billion Deal with KSL Capital Partners
Center City-based Hersha Hospitality Trust is being taken private by Denver-based KSL Capital Partners in an all-cash transaction valued at $1.4 billion, writes Emma Dooling for the Philadelphia Business Journal. As part of the deal, KSL affiliates will acquire all of the outstanding common shares of Hersha for $10 per share, which is around 60…
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La Salle University Sells Residence Halls for Affordable Senior Living and Student Housing
La Salle University sold two undergraduate residence halls on its Olney campus to a private investor who plans to use the two properties for affordable senior living and housing for insecure college students, writes Ryan Mulligan for the Philadelphia Business Journal. The sales are part of the university’s strategic plan to place greater focus on…
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Wall Street Journal: Philadelphia Lags Behind Most Major U.S. Cities in the Return-to-office Race
Philadelphia continues to lag behind most major cities in the United States in the return-to-office race, granting the City of Brotherly Love a reputation as one of the emptiest office districts in the country, writes Katie Mogg for The Wall Street Journal. One weekly measure shows that the majority of office workers in the Philadelphia…
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Philadelphia’s New Loan Program Aims to Stabilize Affordable Housing
The Rental Improvement Fund aims to help stabilize Philadelphia’s stock of affordable housing by providing forgivable and low-interest loans to small landlords to make needed repairs to their properties while keeping rents reasonably priced, writes Aaron Moselle for the WHYY. The $9 million program offers ten-year forgivable loans of up to $24,999 per property as…
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