Real Estate
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Malvern Bank House of the Week: A Conshy Cottage That’s 123 Years Young
If 223 Spring Mill Avenue, Conshohocken, is a residential senior citizen, she’s one of those grammas at a reunion who is out-dancing, out-giggling, and out-imbibing guests that are half her age. Built in 1900, this four-bedroom, 3.5-bathroom unit has been restored to spring-chicken condition. Here’s the contrast in a nutshell: The small step from the…
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Owner of Plymouth Meeting, Willow Grove Malls Has an Unconventional Idea to Pay Off Debt
The owner of the Plymouth Meeting Mall and Willow Grove Mall, has an interesting idea — apartments, writes Bob Fernandez for The Philadelphia Inquirer. PREIT, as well as other local mall owners, have been suffering in this harsh landscape of post-covid shopping climate. The malls are in debt. Enter CEO Joseph F. Coradino with an…
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Deteriorating Linfield Buildings Are Coming Down, But What’s Taking Their Place?
Several Linfield industrial structures — known as the Publicker buildings — will be demolished soon, clearing part of a 192-acre site in Limerick Township for development. Evan Brandt provided details in the Daily Local News. At present, heavy equipment is onsite, clearing underbrush in advance of the removal of the former commercial real estate buildings.…
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Responding to Market Pick-up, Fort Washington-based Toll Brothers ‘Dropping Incentives’
Fort Washington-based Toll Brothers noted a residential real estate market upswing at the start of 2023, recording as many contracts in January as the home builder made in November and December combined. Ryan Mulligan unlocked the details for the Philadelphia Business Journal. According to Toll Brothers CEO Douglas Yearley, February is showing a similar promise.…
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Malvern Bank House of the Week: Bridgeport Home with 1900s Structural Soundness and 2023 Amenities
303 Prospect Street in Bridgeport is a study in contrasts: The original home was built-to-last in 1900, and that it has. The exterior has weathered summers hot and winters cold and still projects the sturdiness with which it was handcrafted more than a century ago. But step across the threshold and 21st century convenience and…
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Median Home Sales Price in Philadelphia Region Continues to Drop
Homebuyers in the Philadelphia region can finally breathe a little easier as the metro area’s home sales price went down four percent in January compared withvthe same month last year to $240,000, write Isaac Avilucea and Mike D’Onofrio for the Axios. Compared to December, January prices fell by 6.7 percent. Any relief is welcome, considering…
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NY Post: Recently Sold Home in Mt. Airy Came with Unique Addition: Cemetery in Backyard
A recently sold home in the heart of Philadelphia came with a unique addition: a cemetery in its backyard, writes Mary K. Jacob for the New York Post. The recent listing provided a video tour of the home that ended with a shot of the cemetery. The video has since been posted on TikTok and…
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Protestors Cite Miley Cyrus in Effort to Stop Penn Valley Developer’s ’76 Place’
Chinatown residents and businesspeople held a rally to reiterate objections to a Penn Valley billionaire’s plan for 76 Place, a new pro basketball arena in their neighborhood. Nina Baratti, KYW Newsradio, covered the protest — which included a parody of the 2013 Miley Cyrus video for “Wrecking Ball.” The anti-development event sought to halt the…
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WSJ: Chester County Real Estate Pro Reminds Landlords ‘Numbers Don’t Always Tell the Whole Story’
While new landlords often rely most on credit, criminal, and background checks when deciding who to rent their properties to, But industry professional Dan Mancini — who owns rental properties throughout the Philadelphia area — believes that there is some wiggle room when it comes to a person’s credit score. Chris Kornelis included his insights…
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Malvern Bank House of the Week: Skippack Pike Site with Special Appeal to Early Rock and Roll Fans
4335 Skippack Pike may sound like it belongs in Skippack, but U.S. Postal Service boundaries being what they are, the mailing address actually is Schwenksville. The entry leads almost directly to the heart and soul of the home, the kitchen. = = The living room near it shows intricate craftsmanship on the fireplace. = =…
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PREIT Sells Whole Foods-Leased Parcel at Plymouth Meeting Mall for $27M
As part of its ongoing plan to raise capital, PREIT has sold the site currently leased by Whole Foods at Plymouth Meeting Mall for $27 million to Agree Realty, a Michigan-based REIT. Paul Schwedelson reported the transaction in the Philadelphia Business Journal. Since the start of last year, PREIT has generated $141 million through asset…
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Fort Washington Developer Collaborates with King of Prussia Contractor on Bucks County Office
Mediplex Property Group (MPG), Fort Washington, has begun a build-to-suit renovation on a single-story, 12,800-sq.-ft building in Newtown, Bucks County. My ChesCo reported on the project. Upon completion in late 2023, Mediplex Newtown will house a combination of outpatient healthcare modalities, including: Situated in the prestigious Newtown Business Commons, Mediplex Newtown is strategically located on…
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In Haverford Township, That Neighbor Next Door Could Be a Philadelphia Eagle
Philadelphia Eagles Center Jason Kelce may be from Ohio, but he’s put down local roots, writes Erik Gunther for realtor.com. Kelce settled in Haverford Township after he got a bargain on a four-bedroom home that went for $680,000 in January 2018 after listing for $800,000 in May 2017. The stone home sits on a one-acre…
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Malvern Bank House of the Week: A Seven-Figure Blue Bell Home That’s a Seventh-Heaven Oasis
140 Plymouth Road, Blue Bell, is a one-of-a-kind Montgomery County real estate opportunity. The home, built in 1979, offers nearly 10,000 sq. ft. of living space, encompassing six bedrooms, seven bathrooms, a living room, a family room, two dedicated offices, and a multilevel flagstone terrace out back that provides a view of a manicured English…
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Pottstown Mercury Building Owners Hang ‘For Sale’ Sign, Pause Ambitious Renovation to Boutique Hotel
Cedarville Engineering Group LLC (CEG), owners of a Pottstown commercial real estate property, have put that site on sale. The building at King and North Hanover Streets was once publishing offices of The Mercury. Mercury reporter Even Brandt, working from the paper’s new office in Exton, covered the CEG search for a new buyer. CEG,…
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These Montco ZIP Codes of Its Wealthiest Residents Showed Household Income Immunity to COVID
A Todd Romero–authored Philadelphia Business Journal analysis of area incomes reveals four Montgomery County communities whose 2020 residents’ earnings vaulted them to a list of the wealthiest ZIP Codes. The distinction is especially notable for its timing, during the economic turmoil associated with the COVID-19 pandemic. Residents of Greater Philadelphia’s 10 richest neighborhoods saw their…
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D2 Organization Keeping Options Open for Vacant Office Building in Collegeville
With the office market still facing many uncertainties, East Norriton’s D2 Organization has opted to keep all options open for a vacant office building in Collegeville. Paul Schwedelson reported on the opportunity for the Philadelphia Business Journal. D2 Organization’s division D2 Capital Advisors recently made arrangements for an $8.5 million refinancing of the property, which…
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Former Lord & Taylor Site at King of Prussia Mall Gains New Tenant
A New York commercial real estate firm is buying part of the former Lord & Taylor store in King of Prussia Mall. Paul Schwedelson covered the arrangement in the Philadelphia Business Journal. The site, which Lord & Taylor vacated in 2021, is owned by HBC Properties and Investments (HBC), a Toronto/New York firm (not Simon…
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