Real Estate
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Temple University Pays $8 Million for Former McDonald’s Site Adjacent to Its Sports Complex
Temple University has purchased the former McDonald’s site at Broad Street and Girard Avenue, next to Temple University Sports Complex, for $8 million, writes Ryan Mulligan for the Philadelphia Business Journal. The fast food restaurant that once occupied the lot was demolished in 2023. This acquisition continues a series of deals the university has pursued…
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Center City’s Largest Apartment Tower Goes Up for Sale Again After 4 Years
Center City’s largest apartment tower, on 1500 Locust Street, is back on the market four years after it was last traded, writes Paul Schwedelson for the Philadelphia Business Journal. The 605-unit, 45-story building was acquired by New York real estate firm Fairstead and Minneapolis investment company Castlelake for $233 million back in December 2021. It…
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Philly Homeowners Stay Put Longer, With Average Tenure Hitting 9.5 Years
Homeowners in Philadelphia are remaining in their homes longer than at any time in at least twenty years, with the average tenure now sitting at 9.5 years, write Mike D’Onofrio and Sami Sparber for AXIOS. In 2005, homeowners typically spent less than four years in their residences before deciding to move. These days, long tenure,…
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House of the Week: Striking Townhouse in Society Hill
A striking townhouse set on a lovely 871-square-foot lot with three bedrooms and three and a half bathrooms is available for sale in Society Hill. This stunning residence combines classic charm with modern sophistication and is just steps from the historic beauty of Washington Square Park. Elegant details include marble entryways, soaring ceilings, custom storage,…
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Fortune 10 HQ in Conshohocken Hits the Market — Fully Leased
A marquee property in Conshohocken is officially on the market, according to Paul Schwedelson for The Philadelphia Business Journal. The 429,000-square-foot headquarters of Cencora has been listed for sale by owner PRP Real Assets. The 11-story, Class-A office building at 1 W. First Ave. is fully leased to the Fortune 10 pharmaceutical giant, with 10…
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Upgrade Time: Saquon Barkley Bought Malvern Mansion After Trading to Eagles
When Saquon Barkley upgraded his team from the New York Giants to the now Super Bowl-winning Philadelphia Eagles, he also traded in his New Jersey home for a mansion in Malvern, writes Mary K. Jacob for the New York Post. The 28-year-old football running back purchased a 10,000-plus-square-foot house in Chester County in April. He…
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Bucks County Housing Market in Nation’s Top 50 at Year-End 2025
One Bucks County housing market ranked among the top 50 nationwide in the fourth quarter of 2025, making it one of only two Greater Philadelphia housing markets to earn a spot, write Joanne Drilling and Ryan Mulligan for the Philadelphia Business Journal. The ranking highlights ZIP codes where market activity is surging, prices are climbing…
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House of the Week: Grand Federal Townhouse in Heart of Rittenhouse Square
A grand federal townhouse set on a lovely 2,178-square-foot lot with five bedrooms and five full and four half bathrooms is available for sale in Rittenhouse Square. This magnificent residence perfectly blends historic charm with modern luxury. The many refined details throughout include soaring ceilings, heated hardwood floors, marble fireplaces, and expansive windows that allow…
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Planned South Philadelphia Stadium District Development Project, Opposed By Many, Unravels
A major development in South Philadelphia’s stadium district, opposed by the Phillies, Eagles, and Comcast Spectacor, appears to have collapsed after the real estate partnership behind the project dissolved last summer, writes Jake Blumgart for The Philadelphia Inquirer. The project, which would have brought 1,367 residential units to the district, was unveiled in 2024 as…
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Germantown Friends School Buys Adjacent Historic Bank Building for $2M in Expansion Move
Germantown Friends School recently acquired a historic 11,000-square-foot building housing a Wells Fargo branch for $2.05 million, writes Ryan Mulligan for the Philadelphia Business Journal. The acquisition increases Germantown Friends School’s Philadelphia presence to nearly a full city block. The 94-year-old building, located at 5452-58 Germantown Avenue, occupies over an acre. The school currently has…
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Philadelphia Mortgage Payments Top Rents By More Than $600 Per Month
Owning a home in Philadelphia is more expensive than renting, a trend observed in all 100 of the nation’s largest metropolitan areas, write Sami Sparber and Isaac Avilucea for AXIOS Philadelphia. The median monthly gross rent in Philadelphia is $1,567, while the median housing cost with a mortgage is $2,199, making homeownership $632 more expensive…
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Philadelphia Historical Commission Greenlights Reuse Plan for Wanamaker’s Grand Court
The Philadelphia Historical Commission recently approved the first steps of the planned reuse of the Wanamaker Building’s Grand Court, writes Kimberly Haas for Hidden City. The historic building, which was designed in 1910, is considered a landmark anchor for the long-struggling Market East corridor. It was added to the Philadelphia Register of Historic Places in…
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New Report Details Who Has Been Moving Into Center City’s New Apartment Buildings
Center City has seen a major influx of new apartments in recent years and a new report breaks down the demographics of the individuals who have been moving into them, writes Molly McVety for PhillyVoice. A recent survey published by the Center City District shows that Philadelphia has been attracting many new residents from other…
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After Sonder’s Collapse, Witherspoon Building Returns to Long-Term Rentals
The 186-unit Witherspoon Building has transitioned from short-term rentals into a more traditional leasing model following the sudden collapse of Sonder Holdings, writes Emma Dooling for the Philadelphia Business Journal. SSH Real Estate, which owns the Center City building in partnership with Young Capital, is now repositioning the property as a traditional rental asset. According…
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Philadelphia Metro is One of 10 Job Markets Setting the Stage for Strong Housing Demand in 2026
Of the numerous factors that impact the housing market, one is emerging as particularly important for 2026: employment. Employment strength is the driver behind buyer confidence, income growth, and, ultimately, housing demand. Conversely, slower hiring, layoffs, and rising unemployment have a direct correlation to weaker housing markets. With this logic, NewHomeSource parent company Zonda produced…
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House of the Week: Stunning Contemporary in Wynnefield
A stunning contemporary home on a lovely 9,583-square-foot lot with five bedrooms and three full and two half bathrooms is available for sale in Wynnefield. This striking residence exudes sophistication and modern elegance, designed to impress while also having exceptional privacy and security. Refined features include hardwood floors, soaring ceilings, and oversized rear windows. .…
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Hatboro Wawa Sells for $7.4M in Major Local Real Estate Deal
A recently built Wawa in Hatboro has changed hands in a multimillion-dollar deal, writes Schwedelson for The Philadelphia Business Journal. Ivyland-based Altimari Properties purchased the Wawa at 412 S. York Road for $7.4 million. The convenience store was completed in 2023. It sits at the busy intersection of York and Horsham roads and includes fuel…
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Renovated Chestnut Hill Estate with Marble Baths, Infrared Sauna Listed At $4.25 Million
A recently renovated home in Chestnut Hill, one of Philadelphia’s most affluent neighborhoods, has hit the market for a whopping $4.25 million, writes Ryan Mulligan for the Philadelphia Business Journal. Dating back to the 1880s, the home spans around 8,500 square feet across three floors and has been given a full facelift over the last…
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