Real Estate
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As Home Flipping Sales and Profit Margins Decline Nationwide, the Philadelphia Area Bucks the Trend
While home flipping sales and profit margins decline nationwide, the Philadelphia market, like Montgomery County, is bucking those trends. The area recorded growth in several categories, according to a staff report from ATTOM Data Solutions. The 2020 U.S. Home Flipping Report by ATTOM Data Solutions shows 241,630 single-family homes and condos flipped in the U.S.…
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Malvern Bank House of the Week: Spacious Main Line Mansion in Merion Station
Own this gorgeous, spacious Main Line mansion, situated in Merion Station. This estate is located at 227 Bowman Avenue is listed for $3,150,000, with 6 bedrooms, 7.5 bathrooms, and over 10,000 Sq. Ft. . . Amazing architectural details, features, and finishes are apparent throughout the house, with soaring ceilings, stairs with the original iron balusters,…
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Conshohocken-based Real Estate Group Drops Millions to Purchase Pair of Chester County Buildings
Exeter Property Group has had a busy few weeks with real estate transactions in Chester County, writes Natalie Kostelni for the Philadelphia Business Journal. The real estate investment management firm, one of the largest in the world, purchased a building on 13.4 acres at 931 Matlack Street in West Chester for $20.2 million. Anro Inc.…
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Local Builder of Luxury Homes Works to Finalize Succession Plan, Be Under New Ownership by End of 2022
Malvern-based Pohlig Builders is finalizing the succession plan it started six years ago to be under new ownership by the end of next year. Natalie Kostelni covered its long-term vision for the Philadelphia Business Journal. The new owners of the builder — known for high-end custom homes in the $5-$10 million price range — will…
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Popular Suburbs in Montgomery County Seeing Red-Hot Seller’s Market
Montgomery County is currently seeing a red-hot housing market, with homes receiving several offers within days of being put up for sale, writes Rachel Ravina for the Montgomery Media. “There are too many buyers for the inventory that exists,” said Keith Kline, a Realtor at Coldwell Banker Hearthside in Collegeville. By the end of last…
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Large Project Approved for the Heart of Ardmore
The Lower Merion Building and Planning Committee has recommended approval of a large-scale new project in Ardmore, writes Richard Ilgenfritz for Main Line Media News. Often called the Piazza Project since it would take over two car dealerships with that name, the project will be developed along Lancaster Avenue, from Ardmore Avenue to Greenfield Avenue.…
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East Norriton-based Gambone Group Unloads Portfolio of 43 Industrial Buildings in Montco for $210M
Taking advantage of the market that is putting the prices for warehouse and flex properties at unprecedented levels, Gambone Group has sold its industrial buildings portfolio in Montgomery County to MRP Industrial for a little over $210 million, writes Natalie Kostelni for the Philadelphia Business Journal. The 43 buildings totaled 1.4 million square feet provide…
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Malvern Bank House of the Week: George Washington Slept Here! 22-Acre Ambler Property Full of Historical Aspects
Located at 525 Lewis Lane in Ambler, this massively historic property called Dawesfield dates back to 1736. With several buildings, 7 bedrooms, 4 baths, and 5,829 sq ft, this gorgeous house on Lewis Lane is listed for $6,850,000. . Historians will be fascinated by the stories detailing the use of one of 2 stone colonials…
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Commercial Real Estate Market in King of Prussia Continues to Strengthen as Pandemic Wanes
King of Prussia’s commercial real estate market is continuing to strengthen as the pandemic continues to wane, notes the Q2 2021 KOP Commercial Properties Update from KOP-BID, writes Executive Director Eric T. Goldstein. The vacancy rate for Class A office space was at 16.7 percent, which is in line with the previous quarter. However, there…
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Record-Breaking Numbers at Recorder of Deeds in Montgomery County
Montgomery County Recorder of Deeds Jeanne Sorg is proud to proclaim 2021 to be a record-breaking year for the office. In the first six months of this year, the office recorded over 76,000 documents. For comparison, in an average year, the office typically records around 100,000 documents a year. Despite the pandemic and temporary shutdown…
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Malvern Bank House of the Week: Mont Clare Gem Offers Private Views, Abundant Space, and Indoor Swimming Pool
Tucked into a secluded, private pocket on the very edge of Montgomery County, near the Mont Clare Canal, this one-of-a-kind home was designed by Philadelphia architect Alvin Holm in 2003. This 4BR, 4.5 bath house is 5400 sq ft is listed for $975,000, and has a two-car garage. .This secluded 3.7-acre property is located in…
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King of Prussia Building That Houses Qlik Sells for $25.8M
Jack Lingo Asset Management, a Rehoboth Beach-based real estate company, has entered the Philadelphia office market with the acquisition of the King of Prussia headquarters of software firm Qlik for $25.8 million, writes Natalie Kostelni for the Philadelphia Business Journal. The company has decided to take advantage of the increased opportunities in the market resulting…
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Local Homebuying Trend Has Purchasers Showing Huge Interest in Tiny Floorplans
The appeal of the sprawling Chester County estate, in all its multi-roomed glory, certainly speaks to a segment of the home-buying public. But a growing number of Chester County real estate purchasers are opting for something smaller. Much smaller. Roger Morris peeked into this trend for Main Line Today. The so-called tiny house trend, those…
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Malvern Bank House of the Week: Sophisticated and Contemporary Renovated Ambler Farmhouse Offers Modern Amenities
This gorgeous, masterfully updated 4-bedroom, 3.5 bath brick farmhouse of 6,448 sq ft, is situated on a beautiful 2.72 acre lot tucked within a desirable Montgomery County neighborhood. This residence located at 7251 Willow Lane in Ambler is currently listed at $1,995,000. . . Walk right in, and enjoy the refinished hardwood floors, the 2-story…
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Neumann University Purchases Properties from Sisters of St. Francis
Neumann University and the Sisters of St. Francis of Philadelphia officially signed a purchase agreement on June 30 to formalize the sale of several historic properties and contiguous land to the university. Under the agreement, Neumann, at what both parties described as fair market value, will acquire the Our Lady of Angels Motherhouse Convent owned…
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Royal Athena in Bala Cynwyd Trades for $60M
Royal Athena, a 275-unit apartment complex in Bala Cynwyd, has been acquired by an affiliate of Harbor Group International for $59.9 million, writes Natalie Kostelni for the Philadelphia Business Journal. Harbor Group International of New York decided to purchase the 600 Righters Mill Road property because it is in a “strong Philadelphia submarket with healthy…
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Malvern Bank House of the Week: Grand Stone Manor on 3 Acres with Carriage House in Haverford is Distinctive and Regal
Step into this amazing stone manor home on over three acres of land across two non-sub-dividable lots complete with a carriage house with a 3-car garage and apartment framing and a solid stone barn. With 7 bedrooms, 6.5 baths, 6 car garage,and 15,655 sqft on three acres, this manor house at 250 Grays Lane in…
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Center City Still Has Lower Commercial Vacancy Rates Than Most of Montgomery County, But Not For Long
While Philadelphia’s office market still has a lower vacancy rate than most of Montgomery County, this could be changing sometime in near future, writes Harold Brubaker for The Philadelphia Inquirer. A possible glimpse into the future was provided recently by Radian Group, which decided to move its corporate headquarters from Center City into a significantly…
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