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condominium: Read up On Philly's Past, Present, and Future - 08/10/10 07:20 AM
I'm headed out of town for a couple weeks - but before I leave I thought I'd share a few recent articles that might increase your knowledge of Philadelphia's past, its present, and its likely future. All are at least somewhat real estate related and I learned a bit from each one.
I'll be back in town on the 24th of August, but if you need expert real estate advice before then I highly recommend contacting Tim Garrity at my office. He can be reached at 215-825-2250 x.1007 or tgarrity@brownmckinney.com.
Read up on the recent "condo boom" in Philly - we're … (1 comments)

condominium: Does Developer Distress Equal a Good Reason to Buy a Condo? - 07/20/10 10:32 AM
According to this article in today's Philadelphia Inquirer, there is some Miami/Vegas style drama going down with yet another Philadelphia condo building. This time the financial distress involves the highly visible, newly constructed 10 Rittenhouse Square building that's still receiving finishing touches to its ground floor retail areas. Control of the building has been seized by a local pension fund that acted as a mezzanine lender on the project and is owed about $57 million by the building's developer. The senior lender on the project, IStar Financial, can also be expected to make a play for control of the building as … (0 comments)

condominium: Philly Condo Prices Starting to Make Investment Sense - 05/06/10 06:39 PM
The title of this blog says it all. I'm finally starting to see condo prices in some Philadelphia condo buildings that make sense as buy-and-hold investment opportunities. Typically the business model of buying a condo unit and renting it out for cash-flow has been a long-shot in Philly. This is largely due to condo fees that cost you more than the amenities they pay for generate in rental premiums. However, the condo market seems to be lagging the rest of the market in terms of pricing recovery, and since there is still a glut of condos on the market it may … (0 comments)

 
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James Yoakum, SFR

Philadelphia, PA

More about me…

Brown McKinney Real Estate Company

Address: 1733 Spring Garden Street, Philadelphia, PA, 19130

Office Phone: (215) 825-2250 x 1002

Cell Phone: (267) 496-7739

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Observations from my work in the wide world of real estate with a frequent focus on the Philadelphia market.


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