Folsom
REAL ESTATE
Hudson Atlantic’s Zweibel orchestrates sale of Garrett House Apartments in Drexel Hill, PA
Drexel Hill, PA — Garrett House Apartments, a landmark 57-unit apartment building nestled in the heart of Drexel Hill, has recently been sold after forty years under the original owners. The property has been sold for $6 million at a 5.75% cap rate. The sale was orchestrated by Adam Zweibel, founder, and managing partner of Hudson Atlantic, a leading real estate brokerage firm specializing in multi-family properties.
New York Times: Delaware County Homeowners Pay More These Days for Insurance
The average Delaware County homeowner paid a lower premium last year, $1,969, to insure their homes than the average U.S. households paid, which was $2,530. Delaware County insurance premiums cost about .6 percent of a typical home’s value. Even so, Delaware County insurance premiums were 29 percent higher than...
SEPTA issues Request for Proposal regarding apartments and parking garage along the Schuylkill River in Conshohocken
SEPTA has released a Request for Proposal or RFP (view here) that seeks a developer to redevelop the SEPTA-owned property at 101 Washington Street in Conshohocken with apartments and a parking garage. The RFP is mostly legal language and does not require a specific number of apartments to be constructed above the parking structure that would serve the train station and the apartment community.
Permits Issued for 2061 North 8th Street in North Philadelphia East near Temple University
Permits have been issued for the construction of a three-story, three-unit residential project at 2061 North 8th Street in North Philadelphia East near Temple University. The new development will rise from a vacant lot situated on the east side of the block between West Norris Street and Diamond Street, one house to the south of the latter. Designed by HDO Architecture, the building will span 3,338 square feet and will feature a basement and a roof deck. Permits specify Riff Enterprises as the contractor.
Rarity: Fairfax tops Mid-Atlantic rival in June home sales
Fairfax County’s home sales in June outpaced the county’s competition for Mid-Atlantic supremacy. The 1,192 consummated home transactions for the month in Fairfax compared to 1,188 in Philadelphia, which typically leads the Mid-Atlantic corridor. Figures were reported by Bright MLS, based on figures from MarketStats by ShowingTime. Neither...
Corten Real Estate Closes Second Fund, Exceeds Target with $283 Million
PHILADELPHIA, PA — Corten Real Estate Management LLC announced the final closing of its second commingled fund, Corten Real Estate Fund II LP, along with a discretionary co-investment sidecar on March 28, 2024. Combined commitments reached $283 million, surpassing the $250 million target. Investors included public pension plans, Taft-Hartley plans, foundations, endowments, and major family offices.
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