Real Estate
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Harriet Carter Gifts Sells Its Montgomeryville Building for $8.5M
Harriet Carter Gifts has sold the building in Montgomeryville that housed its office, showroom, and distribution center for $8.5 million, writes Natalie Kostelni for the Philadelphia Business Journal. The 171,646-square-foot structure was acquired by Catalyst Commercial Development, which plans to eventually use the space. The company also sold its Bucks County building in a separate…
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Companies Continue Shedding Space in Philadelphia and Suburban Office Markets
With work from home more prominent than ever, businesses are continuing to shed what they consider to be excess office space in Philadelphia and surrounding suburban office markets, writes Natalie Kostelni for the Philadelphia Business Journal. Companies from all sectors have indicated that they no longer need the same amount of space they occupied before…
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New 230-unit Waterfront Apartment Project Coming to Conshohocken
High Street Residential, a subsidiary of Trammell Crow, is planning to develop a 230-unit apartment building on a site beside SEPTA’s Conshohocken Regional Rail station, writes Jacob Adelman for The Philadelphia Inquirer. The Trammell Crow unit builds apartment and condominium projects. It recently acquired a six-acre waterfront tract where it will construct a five-story building…
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Home Sellers Start Dropping Prices in July Amid Cooling Housing Market
Home sellers nationwide and in the Philadelphia region started dropping asking prices in July amid signals of a cooling housing market. Dana Anderson, Redfin, put out the welcome mat on the observation for interested readers. Many buyers have become hesitant to pay sky-high prices that have persisted throughout most of the pandemic. That bullish period…
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As Apartment Rent Rates Rise Nationwide, How Bad Is It For Tenants Here?
While the past 18 months have ushered in an unprecedented sellers’ housing market nationwide, apartment rent rates have also followed the upward trend. Ashley Fahey and Ryan Mulligan covered the local impact for the Philadelphia Business Journal. According to an analysis of RealPage data by The Business Journal, rents among 50 of the nation’s largest…
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General Lafayette Inn in Lafayette Hill Dating Back to 1730s Is Up For Sale
The General Lafayette Inn in Lafayette Hill has hit the market, writes Kevin Tierney for More Than The Curve. The property – which has been in almost continuous use for over 287 years – most recently served as a restaurant named The General from 2017 to early 2020. Before that, it was home to the…
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Malvern Bank House of the Week: Gorgeous Quarry Hill Farm in Harleysville Hits Market
The gorgeous Quarry Hill Farm with its custom-built home with four bedrooms and four and a half bathrooms is available for sale in Harleysville for $3,400,000, writes Kennedy Rose for the Philadelphia Business Journal. However, any developers that may have been hoping to get their hands on the 93-acre property are out of luck. The…
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Frank Lloyd Wright in Philly Area? Check Out This House That Just Hit the Market
After more than two decades of living there, architect Donald Dunham and classics professor Annette Giesecke have decided to put their Frank Lloyd Wright-inspired house in Landenberg on the market, writes Paul Jablow for The Philadelphia Inquirer. The married couple bought the property the house sits on today at the end of the 20th century.…
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When at First They Didn’t Succeed, They Tried Again and Then this Springfield House Was Theirs
They kept circling back to this one Springfield house but it was always out of reach, writes Paul Jablow for The Philadelphia Inquirer. Danielle and Travis Meyer were living in a rented house in Morton for five years with their three children and wanted a house of their own. They saw the perfect one a…
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Eagleville Couple Takes Advantage of Market as Luxury Homes Catch Up with Middle Market
Judee Hashem-Rapoza, a Plymouth Meeting dentist, and her husband, Anthony, decided it was time to put their 8,600-square-foot Eagleview home on the market for $1.95 million in the hopes of taking advantage of the luxury housing market as it catches up with the middle market’s success, writes Michaelle Bond for The Philadelphia Inquirer. The property…
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Bloomberg: Philly Among Metro Areas with Biggest Annual Median Home Price Increase
Philadelphia metropolitan area is among the country’s metro areas with the biggest median home price increases in September, writes Prashant Gopal for Bloomberg. The Philadelphia region is third in the nation, only behind Fairfield County, Connecticut, and Memphis, Tennessee, with a 23.6 percent increase in median home prices last month. The rise in prices is…
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Malvern Bank House of the Week: Colonial Gem Enveloped by Nature in Haverford
A gorgeous colonial home set on a lush 0.82-acre lot with six bedrooms and four full and two half bathrooms is available for sale in Haverford. This three-story charmer stands out with its stone and shingle façade and large covered front porch. While inside there are elegant details including tasteful millwork, a graceful staircase, and…
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UPS Wants to Build Warehouse Near Lower Moreland; Residents Are Not Too Happy
UPS is hoping to build a warehouse and distribution center near the Lower Moreland despite protests from residents, writes Jason Laughlin for The Philadelphia Inquirer. The shipping giant is proposing to develop a million-square-foot facility on Red Lion Road near Philadelphia’s border with the Montgomery County town. The space was most recently used as a…
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A Refundable $100,000 Deposit Gives Any Buyers a Shot at Owning Region’s Most Expensive Estate
Arbor Hill in Fort Washington, a sweeping estate owned by Dennis Alter, former chief executive of now-defunct Advanta, has been put up for private auction after spending eight years on the market, writes Katie Park for The Philadelphia Inquirer. Alter is auctioning off 50 of the estate’s nearly 70 acres. When the entire property first…
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Buyer Demand Remains Strong in Region’s Real Estate Market Through September
Fueled by historically low interest rates and a pandemic-driven desire for more space, the real estate market in the Philadelphia region remained strong throughout September, writes Michaelle Bond for The Philadelphia Inquirer. This is not a typical market behavior for September, as the month usually shows a slowdown in home sales as families transition into…
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Three Montco Communities Among Top Five Suburbs for Renters
Three Montgomery County communities are among the top five suburbs in the Philadelphia region where apartment renters can get the most bang for their buck, writes Sandy Smith for the Philadelphia Magazine. To identify which five communities in the area have the most to offer for renters, RENTCafé looked at apartment sizes in the eight…
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Fort Washington Estate, Once the Most Expensive Philadelphia Area, Heads to Auction
Arbor Hill, the Fort Washington estate that was once the most expensive listing in the Philadelphia region, is headed to auction nearly a decade after first being put on the market, writes Ryan Sharrow for the Philadelphia Business Journal. The nearly 37,000-square-foot mansion was designed by world-renowned architect Rafael Vinoly, whose works include the Kimmel…
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Malvern Bank House of the Week: Spectacular Stone-Front Colonial in King of Prussia
A spectacular stone-front colonial home with six bedrooms and four and a half bathrooms is available for sale in King of Prussia. The residence is situated on a fabulous 1.2-acre lot with a manicured landscaping. The grounds feature a stunning pool house-pavilion overlooking the sparkling in-ground pool and three garages that have a total of…
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