Real Estate
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Philadelphia Housing Authority Acquires West Philly Apartment Tower, Plans Affordable Housing Units
The Philadelphia Housing Authority has paid $51 million for the Dane apartment tower in West Philadelphia with plans to allocate nearly half of the units for affordable housing, writes Paul Schwedelson for the Philadelphia Business Journal. The price for the 17-story, 233-unit building comes out to $219,000 per unit — roughly half the cost of…
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Rittenhouse Square Brownstone Sells After 15 Years on the Market
A five-story, 7,155-square-foot Rittenhouse Square brownstone that was originally placed on the market 15 years ago has finally been sold, writes Ryan Mulligan for the Philadelphia Business Journal. The property sold for $2.625 million — about half of its original list price — to a New York buyer, according to Nancy Alperin, a broker with…
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Philadelphia Now Ranks Among Zillow’s Top Five Hottest Housing Markets for 2025
Greater Philadelphia has climbed six spots from last year to rank as the nation’s fifth hottest housing market for 2025, according to Zillow, writes Ryan Mulligan for the Philadelphia Business Journal. Local real estate experts believe that the current year could bring back some semblance of normality to the Philadelphia-area real estate market following a…
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First Bank House of the Week: Hot Tub Evenings and Elegant Living in Bryn Mawr
Listed at $2,795,000, 262 Curwen Road in Bryn Mawr is a stunning single-family home that seamlessly blends classic charm with modern amenities. Built in 1997, this residence offers 5,563 square feet of living space, featuring five bedrooms and four and a half bathrooms. XXX XXX Upon entering, you’re greeted by a spacious living room adorned…
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Fort Washington Developer Purchases 61-Acre Newtown Site for $6.98M to Build 45 Single-Family Homes
Fort Washington-based Toll Brothers has paid $6.98 million for a 61-acre Newtown site where it plans to build 45 single-family homes, writes Paul Schwedelson for the Philadelphia Business Journal. The undeveloped site is located at 107 Twining Bridge Road, next to All Saints Cemetery. It was acquired from Philadelphia Catholic Cemeteries, part of the Archdiocese…
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King of Prussia’s Westover Buys New York Real Estate Portfolio for $94.5M
King of Prussia-based Westover recently purchased a multifamily real estate portfolio in New York for $94.5 million from Black Spruce Management, writes Paul Schwedelson for the Philadelphia Business Journal. The 98,000-square-foot, 147-unit portfolio consists of 13 properties in Manhattan’s Chelsea neighborhood, between West 19th and West 29th streets. The properties average five stories. The acquisition…
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Philadelphia-Area Hotel Sales in 2024 Totaled Over $100M, More Than Half in the City
Philadelphia-area hotel sales generated more than $100 million across the region in 2024, with most of the revenue occurring in the city, writes Emma Dooling for the Philadelphia Business Journal. This marked a rebound from a different year in the industry in 2023, when transaction volume was down nationwide as a result of a disconnect…
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Philadelphia-Based Brandywine Realty Trust Sells 23-Story Building in Arlington for $190.5M
Philadelphia-based Brandywine Realty Trust recently sold a mixed-use building in Arlington, Virginia, for $190.5 million as part of its continuous efforts to ease out of the Washington D.C. market, writes Michael Potter for the Philadelphia Business Journal. The sale of the 23-story building, which is the tallest building in Arlington’s Ballston submarket, comes more than…
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Phillies Legend Mike Schmidt’s Former Media Home Sells for $2.9M
Someone has paid $2.995 million for Phillies legend Mike Schmidt’s former mansion in Media Borough, writes Ryan Mulligan for Philadelphia Business Journal. The sales price, reported by Zillow, is 40 percent below its original listing of $4.975 million in April 2023. The 12,000-square-foot seven bedroom, six and a half bath mansion is off Providence Road…
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Paris-Based Architects Build Beautiful Glass House in Gladwyne
Gladwyne is now home to a newly completed modern glass house designed by Paris-based architects Margot Petropavlovsky and Chloe Taieb, writes Sandy Smith for Philadelphia Magazine. The architecture is a minimalist masterpiece that seamlessly merges indoor and outdoor spaces. Close to the Philadelphia Country Club, the home’s design has sliding glass doors, expansive windows, and…
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Toll Brothers Breaks Record with Biggest Year in Company History
Fort Washington-based Toll Brothers capped off its 2024 fiscal year with $10.6 billion in home sales revenue, marking the best year in its history, writes Paul Schwedelson for the Philadelphia Business Journal. The luxury homebuilder ended the year with a robust fourth quarter, seeing gains across nearly all key metrics compared to 2023. CEO Douglas…
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Foxlane Homes Proposes 43-Townhome Project for Glenside
Cheltenham Township has received a proposal from Foxlane Homes to develop 43 townhomes on Willow Grove Avenue in Glenside, writes Ryan Genova for Glenside Local. The Planning Commission will review the project on December 16. The Building and Zoning Committee will review it on January 6. Finally, it goes to the Zoning Hearing Board in…
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First Bank House of the Week: Charming Stone-front Craftsman in Collegeville
A charming stone-front craftsman home on 0.5 lovely acres with four bedrooms and three and a half bathrooms is available for sale in Collegeville. . . This impressive residence offers a spacious and welcoming environment perfect for modern living. It is ideal for those looking for a contemporary design balancing comfort and luxury. . .…
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Local Realtor Predicts Growth in Listings Will Help Stabilize Bucks County Real Estate Market
Though Bucks County has experienced a seller’s real estate market for several years, a local realtor anticipates substantial growth in residential listings, which could help stabilize prices for buyers, writes Lacey Latch for the Bucks County Courier Times. Stephanie Garomon, 2024 president of the Bucks County Association of Realtors, said that the situation in the…
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University City Still Among the Hottest Submarkets Nationwide for Tech Office Space
University City is still one of the nation’s hottest submarkets for tech office space, writes Ryan Mulligan for the Philadelphia Business Journal. Office space rents in the growing business corridor increased at the third fastest rate in the country year over year in the second quarter of 2024, according to a new CBRE report. University…
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New Luxury Apartments Have Opened at 333 N. Broad St. in Doylestown
New luxury apartments, 333 N Broad St. (named after its address), have opened in Doylestown and are available to lease, the culmination of a 30-year vision to transform the area, writes Lacey Latch for the Bucks County Courier Times There are currently 136 apartments to rent in the main building of the $77 million complex.…
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JP Orleans to Bring Riverfront Community to King of Prussia
Conshohocken-based JP Orleans is planning to develop a 119-unit residential community on a premier 18-acre parcel along the Schuylkill River in King of Prussia, writes Ryan Mulligan for the Philadelphia Business Journal. The project, called the River Trail at Valley Forge, will feature a mix of two-story carriage houses and three-story townhouses. Pre-sales have already…
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A Mansion Under Construction in Broomall Is Upsetting the Neighborhood
Nicholas Reynolds is cofounder of the Marple Civic Association, serves on the Marple School Board and is a successful owner of Delco Steaks, Marple Public House, and the Splash Swim Club, but he’s lately getting flak for an oversized home he’s building in a Broomall neighborhood Tensions have mounted for months between Reynolds and neighbors,…
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