PHILADELPHIA -- Crescent Heights has paid $30 million for the Arts Tower, making it the fourth residential project the Miami-based real estate company has taken on in Center City. Crescent Heights plans to convert the Arts Tower, a 16-story apartment building at the corner of…

PHILADELPHIA -- A budding trend in the Center City real estate scene is putting a new twist on the practice of flipping real estate. While the red-hot real estate market enticed investors to flip -- buying condominiums or fixer-uppers in hopes of seeing values quickly…

PHILADELPHIA -- One Presidential Blvd., the 120,000-square-foot building in Bala Cynwyd where Aamco Transmissions Inc. has its headquarters, is in limbo. When Aamco announced March 8 that it would be bought out by Cottman Transmission Systems Inc., it meant that Aamco will no longer need…

PHILADELPHIA -- Allan Domb Real Estate bought two buildings along Walnut Street — Philadelphia’s premier High Street retail corridor — from Pearl Properties. The real estate company paid $8.5 million for 1423-1427 Walnut St., a 17,748-square-foot building, and $8 million for 1421 Walnut St., a…

PHILADELPHIA -- Retail rents along Walnut Street have reached a new threshold -- $100 a square foot and above -- in a clear sign retailers are willing to pay up to reside along a key Center City shopping corridor. The high rents underscore the rise…

PHILADELPHIA -- Moreland Development sold 1900 Chestnut St., a three-story, 7,100-square-foot building in Center City that it bought 14 months ago with the intention of putting in a Walgreens pharmacy. When neighborhood opposition mounted, Moreland decided drop its plans and sell. "We got an offer…

PHILADELPHIA -- An architecturally significant structure at 15th and Walnut streets in Philadelphia, the Drexel Building, that was home to one of the city's major financial institutions, was sold for $11.5 million. The deal was between two local private partnerships that didn't divulge their identities.…

PHILADELPHIA -- Yaron Properties is expanding its presence in Old City by adding two additional residential projects, switching its successful Merchants' Row apartment complex into condominiums, and breaking out a new concept for the building that housed MTV's "Real World" cast. Yaron has already amassed…