Ken Mallin’s dedication to establishing and maintaining strong client relationships and the innate ability to be creative and patient when it comes to complex transactions has made him and his firm a success.
Kenneth Mallin has been active in the Philadelphia real estate industry for 48 years, initially starting out on the residential side of the business before shifting his focus to the commercial side. In 1992, he formed MPN Realty Inc. and has helped lead the firm to dynamic growth. Among Mallin’s many strengths that have made him and his firm a success is his dedication to establishing and maintaining strong client relationships and the innate ability to be creative and patient when it comes to complex transactions.
A prime example of a challenging deal Mallin managed to get over the finish line last year was at 5th and Spring Garden streets in Philadelphia, a transaction other brokers had attempted with no success. It was Mallin’s expertise, ability to gain trust and create compromise that led to the 100,000-square-foot parcel that takes up an entire city block finally being sold.
What made the transaction so complicated and complex was that the property was owned by a series of 11 different condominium entities involving six different people. All of the condominium interests weren’t considered equal and the valuation of the property also proved challenging. Mallin worked to convey how and why individual values varied, meeting with each owner over the course of six months. The thoughtful and patient approach worked and all of the owners were eventually ready to move forward with a deal. With the site sold, a new 13-story apartment complex with 382 units, an Amazon Fresh and other retail is now under development at the Northern Liberties property.
“First and foremost, Ken is an astute observer of human nature and a good listener,” said Scott Janzen, who has been a client of his for years. “He recognizes that potential buyers and tenants will sell themselves on an opportunity given the right information. He paints a general picture but allows room for the potential customer to fill in the details that make it their own decision. His success is due to this personal approach, to his consummate knowledge of the market, his skills at listening and observing, and his love of the business.”
Last year, Mallin transacted more than 20 deals totaling nearly $150 million. Aside from the sale at 5th and Spring Garden, his other deals in Philadelphia included 920-42 Fairmount Ave., 244-58 N. 2nd St., 1617 Walnut St., 2036 Sansom St., and 1601 N. Front St.