Passing by the other day, we noticed a ‘For Sale’ sign on a large building on the 1800 block of S. 11th St. about a block and a half from Passyunk Avenue. Though the building looks to have gotten some work done in recent years, it seemed like a potentially interesting development opportunity.
The Victorian Room is an event space and also home to the South Philly Vikings fancy brigade. According to their website, they have a hall with space for 120 as well as a full bar. Looking at the listing for the property, we quickly realized that the sign on the building doesn’t apply to the banquet hall but instead applies to the two buildings to the north. 1811-13 S. 11th St. is currently listed for just under $450K and includes, according to the listing, a…
We were in the neighborhood the other day and passed by the Independence Press Building at 11th & Green. For what felt like the hundredth time, we thought to ourselves how great it would be if this place would get rehabbed already. Earlier this year when we told you about another proposed project on this block, we mentioned this property as a tremendous development opportunity in a growing neighborhood.
On Green Street
Looking up on 11th Street
When we passed by, we noticed something new and different about the building. Some signage had been added that made up extremely optimistic that it would soon change hands and could receive the attention it deserves in the near future.
From what we understand,…
We’ve passed by 2940 W. Thomson St. numerous times over the years, often wondering what purpose it once served and when it was last in use. Earlier this year, we noticed a ‘For Sale’ sign on the building, but never bothered to look into it, thinking it was snatched up the day after the sign went up. Seems we were mistaken.
The property has been owned by PHDC since 1983, and was listed for sale in February for $130K. While that may seem like a strong price point for a building in Brewerytown, the dimensions of the lot make it a very attractive real estate investment. Checking in at 118′ by 66′, the lot could easily accommodate seven single family homes or a more creative multi-unit development. Or a combination of the two. Somehow, the building sat…
At 5th & Thompson, a block north of Girard, we present to you what one might call a four-star corner.
At the southeast corner of this intersection is a huge vacant lot, across the street from the wonderful and charming Taco Riendo. The lot is actually six separate parcels, all owned by members of the Erlich family, which has owned them since the late 1980s. There was a deed transfer in 2012 from Jacob Erlich to Harvey and Eli Erlich, indicating that the family is at least aware that they own these properties, despite not having done anything with them in over two decades. Looking at public record, the City was, curiously, not charging them property tax until 2011 for these properties, which might partially explain the lack of development. Unfortunately, the failed land valuation that will accompany AVI will dramatically undervalue these lots, which will…
We’ll refrain from sharing the specific results from a recent 4am jaunt to Sugarhouse, but after this unmitigated disaster, we noted an interesting rickety and seemingly vacant building across the street from the casino, at the corner where Shackamaxon St. hits Delaware Avenue. Since the casino recently announced its plans for an expansion, and with news of various waterfront developments the past year, like plans for a major mixed-use entertainment rooted development that includes the Richmond Street warehouse complex, just north of Frankford and Delaware Avenues, we decided to come back and check the building out in proper daylight.
It turns out the entire 1100 block of N Delaware Avenue, which stretches between Shackamaxon and Marlborough Streets, is owned by the same developer. They acquired the parcel in question, 1100-02 N. Delaware Ave., for $3.9M in May, 2008, according to
In Point Breeze, large parcels are hard to come by these days. So when one becomes available it’s worth noting, even if the asking price makes redevelopment very challenging. Take 1153-61 S. 15th St., currently an auto body repair shop, for example:
And the lot next door
A month and a half ago, this property came on the market at an asking price of $900K. The property measures about 83′x100′, but what can you built on this footprint? Assuming that the sale price is fairly close to the current asking price, maintaining the property as an auto shop is clearly out of the question. Demolishing the existing building and constructing five homes fronting 15th Street would result in a loss of hundreds of thousands of dollars. Adding an additional story onto the property and creating…