Real Estate
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Morgan Properties Continues National Expansion With Georgia Deal
Conshohocken-based Morgan Properties continues its national expansion with the purchase of a 260-unit apartment community outside Atlanta, according to a press release. Morgan Properties acquired The Corwyn South Point Apartments in McDonough, Georgia, from ECI Group. The 10-building complex will be renamed Arden at South Point. The sales price has yet to be disclosed. Located…
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CHOP Pays $17.5M for Former Medical Examiner’s Building in West Philadelphia
Children’s Hospital of Philadelphia recently paid $17.5 million for a West Philadelphia building that was once home to the Philadelphia Medical Examiner’s Office, writes John George for the Philadelphia Business Journal. The pediatric medical center intends to tear down the 69,000-square-foot building, though it has not yet decided on any future plans for the site.…
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See Which Philadelphia Neighborhoods Are Most Expensive for Purchasing Homes
Home prices in Philadelphia continue to climb, with the median home sale price in the city’s most expensive neighborhood with Chestnut Hill reaching $751,000 last year, writes Mike D’Onofrio for AXIOS Philadelphia. This marks nearly a seven percent increase from 2023, according to Bright MLS data. In Philadelphia proper, the median sale price reached $265,000…
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House of the Week: Charming Traditional in Chestnut Hill
A charming traditional home set on a lovely 0.43 acres with eight bedrooms and four and a half bathrooms is available for sale in Chestnut Hill. This exceptional, thoughtfully reimagined residence perfectly blends historic charm with modern comfort. Refined details include refinished hardwood floors, elegant oak cabinetry, and custom built-ins, all reflecting the thoughtful updates…
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HSN’s Move to West Chester Paves Way for 400,000-Square-Foot Industrial Project at Former Campus
Vacated after HSN consolidated operations in West Chester, the network’s former Florida headquarters is set to become one of Tampa Bay’s largest industrial developments, writes Veronica Brezina for St. Pete Rising. The 65-acre north St. Pete site is under contract to Greystar, the largest multifamily housing owner, manager, as well as a developer in the U.S. The firm is…
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Debate Grows Over New Housing Plan at Former Freddy Hill Farms
The future of the former Freddy Hill Farms property remains a hot topic in Towamencin, writes Dan Sokil for The Reporter. Township supervisors recently reviewed a revised proposal from Pinnacle Realty that would bring 207 housing units to the longtime dairy farm and entertainment site. The property has been under discussion since the Seipt family…
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Wall Street Journal: Amid Rising Prices, People Turn to Zillow Therapy to Go on Make-believe Real-Estate Hunts
With rising prices, low inventory, and high mortgage rates, more people are turning to Zillow therapy: make-believe real-estate hunts in the Philadelphia region that transport them into a fantasy of a better future, writes Elizabeth Bernstein for The Wall Street Journal. Ellisha Caplan is a 47-year-old consultant in Delaware who has been searching various real-estate…
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Former Eagle Brent Celek Adds Five West Chester Warehouses to Real Estate Portfolio
Former Eagle Brent Celek, who just brought his residential brokerage to Keller Williams Media, has acquired five West Chester warehouses for over $10 million as he doubles down on commercial real estate, writes Ryan Mulligan for the Philadelphia Business Journal. Over the last eight years following his NFL career, Celek has ventured into nearly every area of real estate, including single-family…
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Perkasie’s Final Undeveloped Land May Become Home to Recycling Center
After borough leaders and residents pushed back against plans for luxury apartments, the final undeveloped tract of land in Perkasie may instead be developed as a recycling center, writes Lacey Latch for the Bucks County Courier Times. On Feb. 25, Perkasie Place submitted a sketch plan to the borough planning commission seeking initial feedback on…
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Philadelphia Lands in Top 10 of Renters’ Most Wanted Cities List
Philadelphia ranked among the top ten most popular major cities for renters looking for apartments leading up to this year’s peak rental season, writes Michaelle Bond for The Philadelphia Inquirer. To determine the ranking, the nationwide apartment search platform RentCafe analyzed millions of apartment searches across the 150 largest cities in the United States. The…
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Ambler Advances Major Mixed-Use Plan Near SEPTA Station
A proposed transformation of land near Ambler’s SEPTA station took a meaningful step forward this week, writes Linda Finarelli for The Reporter. The Borough Council voted 5-2 on February 17 to approve revisions to the town’s redevelopment overlay district. This allows Dresher’s BET Investments to move ahead with plans for a mixed-use project along West…
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House of the Week: Gorgeous Traditional in Fairmount
A gorgeous traditional home with four bedrooms and three bathrooms is available for sale in Fairmount. This remarkable residence is a rare historic 22-foot-wide brownstone meticulously restored for modern living, offers timeless charm combined with contemporary sophistication. Distinctive details include soaring 13-foot ceilings, original architectural embellishments, exposed white brick arches, and striking proportions throughout. .…
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Broad Street Diner Owners Propose Five-Story Hyatt Studios Hotel at South Philly Site
The owners of Broad Street Diner plan to convert the property into a hotel that will be operated by Hyatt Studios, the extended-stay segment of the Hyatt brand, writes Jared Mitovich for WHYY. The proposed five-story, 110-key hotel would mean demolishing the diner and the adjacent six-unit apartment building. Upon completion, the project would include…
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Here’s How the Real Estate Market is Doing in Delaware County
The regional housing market appears to have stabilized, according to Larry Flick V, CEO of Berkshire Hathaway HomeServices Fox & Roach Realtors. The Greater Philadelphia market is performing “reasonably well,” and has remained largely a seller’s market, he said. “I think when the spring market pops, it will be strong,” Flick said, predicting a small…
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$105M Redevelopment Finally Moving Forward in Willow Grove
After nearly two years of delays, a major redevelopment project in Willow Grove is finally moving forward, writes Paul Schedelson for The Philadelphia Business Journal. Federal Realty Investment Trust plans to begin demolition this spring at the Willow Grove Shopping Center to make way for 261 apartments and new retail space. The $105 million project…
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Pair of Philadelphia Airport Hotels Put Up for Sale by New York Owner
Lightstone Group, a New York-based real estate investment company, has put Aloft Philadelphia Airport and Four Points by Sheraton Philadelphia Airport on the market after an 11-year hold, writes Emma Dooling for the Philadelphia Business Journal. Lightstone Group purchased the 136-room Aloft and 177-key Four Points in December 2014 for $30 million from Starwood Hotels…
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Main Line Landmark Gets New Mission Under Local Investor
A historic Bryn Mawr building is getting a new purpose, rooted in education, writes Jeff Blumenthal for The Philadelphia Business Journal. The longtime headquarters of Bryn Mawr Trust Co., located at 801 W. Lancaster Ave., has been sold for $7.6 million to real estate investor Michael Karp. The roughly 46,000-square-foot property served as the bank’s…
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Greater Philadelphia Tops National Housing Market Price Growth in January
Greater Philadelphia saw the strongest home price growth among 40 major metro areas in January, with prices rising 8.6 percent year over year, writes Ryan Mulligan for the Philadelphia Business Journal. In January, the region’s median home price increased to $380,000, up from $350,000 a year earlier. According to a recent report from Homes.com, this…
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