Real Estate
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American Red Cross Center City Building Goes Up for Sale, Conversion Likely
A five-story Center City West office building currently owned by American Red Cross is going up for sale, writes Paul Schwedelson for the Philadelphia Business Journal. The 52,676-square-foot building was most recently assessed by the city at $12.2 million. It being on the market presents another conversion opportunity in an area of Philadelphia that has…
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Former Eagle Spending Post-Pro Football Days Enjoying His Modern Smart Home in West Chester
Former Philadelphia Eagles tight end Brent Celek is spending his post-pro football days enjoying life with his wife and four kids at their modern smart home in West Chester, writes Tom Samiljan for Dealerscope. The house and adjoining barn feature a fully connected setup that includes everything from lighting and shades to alarm systems, as…
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King of Prussia Hotel Going On Auction With $3.5M Starting Bid
A King of Prussia hotel with 129 keys is heading to auction and it has a starting bid of $3.5 million, writes Emma Dooling for the Philadelphia Business Journal. The online auction for the Hyatt Place King of Prussia will take place July 22-24 on the real estate platform, RI Marketplace. Built in 2010, the…
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First Bank House of the Week: Stone-front Traditional in Newtown Square
A magnificent stone-front Newtown Square traditional home on 6.95 lovely acres with five bedrooms and three full and two half bathrooms is available for sale. This attractive residence is set in a serene surrounding that offers highly coveted privacy while being just minutes from shopping, restaurants, and much more. Built in 1965, the home was…
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Norristown Reviewing Proposal for Mixed-Use Development On 68-Acre Site Next to State Hospital
Norristown is currently reviewing a proposal to build a mixed-use complex on a 68-acre site near the Norristown State Hospital that promises to be the borough’s largest-ever development of its type, writes Kevin Riordan for The Philadelphia Inquirer. The $300 million Preserve at Stony Creek would have townhouses, apartments, stores, flex space, and a public…
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First Bank House of the Week: Magnificent Colonial in Garnet Valley
A magnificent Garnet Valley colonial home set on 0.5 lovely acres with five bedrooms and four full and two half bathrooms is available for sale. This attractive residence is perfectly positioned on a quiet cul-de-sac, with an elegant walkway that leads to the front door. The home impresses from the start with its breathtaking front-to-back…
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Historic North Wales Property Once Owned By William Penn Goes Up For Sale For $7M
Joseph Ambler Inn, a historic property once owned by William Penn, has gone onto the market for $7 million, writes Justin Heinze for Patch. The property has roots that trace all the way back to the pre-Revolutionary War colonial era. The Inn, which has a hotel, tavern, restaurant, and other operations, is not shutting down.…
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New Jersey Town Just Outside of Bucks County Considered State’s Most Up-and-Coming Area
A town very close to Bucks County has become a regular stop for both locals and visitors to the area, considered a companion to a popular town. Shannon Holly wrote about the town for Lite 96.9. Lambertville is connected to Bucks County by the New Hope-Lambertville Bridge, where locals and visitors can either drive or…
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Haverford Garden Part of Book on Private Gardens of Philadelphia
Sometimes your neighbors can have the most beautiful garden settings that rival even a public garden. Such is the case with the garden of Frank and Reggie Thomas of Haverford. The 55-year couple have been growing a sanctuary in their backyard for almost 40 years. Now their garden is showcased in a new book by…
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Radnor’s EQT Exeter buys 24 Minnesota Warehouse Portfolio
Radnor-based EQT Exeter is making the largest industrial deal the Twin Cities has seen in years with the purchase of a 24-warehouse portfolio in Minnesota, writes Caitlin Anderson for Philadelphia Business Journal. The properties span more than five million square feet of space and have been sold to EQT Exeter for an undisclosed amount. A…
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New High-end Residential Project Likely Replacing Two Center City Buildings
Two buildings on Chestnut Street owned by the Philadelphia Federation of Teachers and the former site of Freeman’s auction will likely be the site of a new residential project, writes Jake Blumgart for The Philadelphia Inquirer. The plan calls for a high-end condo-and-rental building with fewer than 100 units. The Philadelphia Federation of Teachers recently…
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First Bank House of the Week: Elkins-Versailles Colonial in Glen Mills
A lovely stone-front Elkins-Versailles Colonial home on an attractive 0.5 acres with four bedrooms and four and a half bathrooms is available for sale in Glen Mills. The spacious residence is perfectly nestled on a quiet cul-de-sac street in the desirable Concord Chase. It boasts over 5,700 square feet of living space in a flowing…
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Rapidly Growing Warehouse Space Reshaping Jobs, Traffic, and Landscapes in Philadelphia Region
In the last four years, the demand for warehouse space has resulted in 55 million square feet of related industrial real estate being added in the Philadelphia area, write Frank Kummer, Kevin Riordan, Jake Blumgart, Joseph N. DiStefano, and Erin McCarthy for The Philadelphia Inquirer. The nine-county Philadelphia region now has 188 warehouses bigger than…
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Chestnut Hill Could Be Getting a Conservation District
An effort is currently underway to create a neighborhood conservation district around East Mermaid Lane in Chestnut Hill that is likely to be passed by City Council in June, writes Jake Blumgart for The Philadelphia Inquirer. The bill would result in a zoning overlay that would govern all new construction and remodeling in that part…
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Toll Brothers’ Strategy Shift to Speculative Builds Drives Another Quarter of Record Sales Revenue
Toll Brothers’ strategy shift toward more speculative builds due to a tight resale market has paid off for the Fort Washington homebuilder, writes Paul Schwedelson for the Philadelphia Business Journal. During the second fiscal quarter that ended April 30, more than half of contracted Toll Brothers homes were speculative builds, or homes sold after the…
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Pat Burrell’s Former Center City Penthouse Sells For Well-Under Original Asking Price, Two Years Later
The Center City penthouse that former Philadelphia Phillies star Pat Burrell previously owned has been sold to a local Philadelphia couple for $2.65 million. It sold for about 38 percent less than the original asking price of nearly $4.3 million, writes Ryan Mulligan for the Philadelphia Business Journal. The recent sale brings an end to…
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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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First Bank House of the Week: Stone Farmhouse in Glen Mills
A charming stone federal-style Glen Mills farmhouse on 7.2 stunning acres with five bedrooms and four and a half bathrooms is available for sale in The 18th Century Sprucehaven Farm is a true personal natural oasis home to the sixth-largest London Plane tree in Pennsylvania. Highlights include a full-length front porch, charming center foyer with…
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