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Hotel planned for Cherry Street site in Center City

PHILADELPHIA -- A Japanese hotel chain has paid $2.4 million for a sliver of land on Cherry Street near the new Philadelphia Family Court building in Center City and has plans to develop a new hotel on the parcel. Toyoko Inn Development Co. Ltd. bought…
MPN Realty
November 15, 2018
News

Ken Mallin arranges sale of 2 buildings on Walnut to Allan Domb

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…
MPN Realty
October 17, 2018
News

MPN reps both sides of Venice Island sale to developers

A parcel on Manayunk’s Venice Island has sold, setting the stage for its development after years in which various plans were proposed for it but never materialized. A partnership involving Greg Hill’s D3 Development, the Concordia Group and Resmark Cos. bought the property at 1…
MPN Realty
October 17, 2018
News

Domb buys building at 23rd & Pine in Fitler Sq

PHILADELPHIA -- City Councilman Allan Domb’s real estate company has purchased a building that once housed Tria at 23rd and Pine streets in the Fitler Square neighborhood of Philadelphia for $2.2 million. In a separate transaction, Domb also bought the business and liquor license assigned to the restaurant…
MPN Realty
October 11, 2018
News

NY buyer scoops up third Old City property

PHILADELPHIA -- A building in the Old City neighborhood of Philadelphia that houses Charlie’s Jeans and other retail tenants has sold for $13.4 million. The property, which is located at 222 Church St. address, is also known by 231-37 Market St. The property consists of three structures that…
MPN Realty
October 9, 2018
News

MPN Facilitates Sale of 3 Alterra Center City Properties

PHILADELPHIA -- Alterra Property Group has sold four properties to Dalzell Capital Partners, a Westport, Conn., real estate investment firm that has been acquiring multifamily properties in Philadelphia. Dalzell paid $10.1 million for 1310 Spruce St., 1311 Spruce St. and the Queen Village Lofts at…
MPN Realty
August 20, 2018
News

Waverly Court Sells for Top Dollar Four Years After Trading

PHILADELPHIA -- Dalzell Capital Partners, a Westport, Conn., real estate investment firm, has paid $21 million to buy Waverly Court, an apartment complex in Center City. The property at 412-26 S. 13th St. last traded in March 2014 for $6.92 million. While multifamily properties have…
MPN Realty
July 5, 2018
News

DiNardo’s closes, sells Old City building

PHILADELPHIA -- DiNardo’s Famous Seafood, a Philadelphia dining institution, has closed after 42 years in business and the family that ran the restaurant has sold the Old City building where it operated the eatery. The property at 312 Race St. was bought by ASI Corp., a Philadelphia real estate company operated…
MPN Realty
July 2, 2018
News

Building That Houses Famed Dive Bar Dirty Franks Is Sold

PHILADELPHIA -- The building that houses Dirty Franks, a legendary dive bar that has been a Philadelphia institution for 75 years, has sold for $4.5 million. The 12,352-square-foot building 339-49 S. 13th St. in Philadelphia last traded in 2014 for $3.75 million, according to Philadelphia…
MPN Realty
May 24, 2018
News

Former Wedge & Fig restaurant building sold in Old City

PHILADELPHIA -- Here are some briefs covering recent real estate transactions. $3.75M A building at 160-164 N. 3rd St. in Old City that housed the now closed restaurant Wedge & Fig has sold for $3.75 million to an undisclosed partnership from New York. The seller…
MPN Realty
May 10, 2018
News

Phila’s First Medical Marijuana Dispensary Opens in Fishtown

PHILADELPHIA -- Philadelphia's first-ever medical marijuana dispensary has opened its doors. Restore Integrative Wellness Center at 957 Frankford Ave. in Fishtown held its grand opening party May 2, culminating a process that began with the state law allowing cannabis to be prescribed for a list…
MPN Realty
May 3, 2018
News

AMC Delancey picks up a portfolio of Center City properties

PHILADELPHIA -- AMC Delancey Group Inc. has bolstered it local holdings and acquired a six-building portfolio in Philadelphia for $10.8 million. The purchase means that the local real estate company owns a total of 45 properties throughout the city most of which are brownstone apartment…
MPN Realty
April 21, 2018
News

Post Brothers buys Quaker building, plans $100M conversion

PHILADELPHIA -- Post Brothers has closed on buying the Quaker warehouse in North Philadelphia, paying $17.25 million for 900-58 N. 9th St. and paving the way for the real estate company to move forward with a roughly $100 million redevelopment of the structure. The seller was Philadelphia Suburban Development…
MPN Realty
April 12, 2018
News

Fishtown Property Sold to Marijuana Dispensary

Restore Integrative Wellness paid $1.33 million for 957 Frankford Ave., a 6,380-square-foot building in the Fishtown neighborhood of Philadelphia. The seller was Elk Street Management. The building will be used as a medical marijuana dispensary. Restore Integrative has been issued a medical marijuana license and…
MPN Realty
November 16, 2017