Property located in Fishtown, Pennsylvania
Holly Smith, a sales associate with Long & Foster Real Estate’s Wayne/Devon office represented the seller in the $3.2M sale of a nearly 29,000 square-foot commercial parcel in the heart of Fishtown, Pennsylvania.
Located at 2523-49 East York Street, this Neighborhood Commercial Mixed-Use (CMX2) district-zoned parcel had been sought after by agents and developers for years. The parcel runs street to street with incredible frontage and the ability to build more than 80 units.
Smith’s specialty is sourcing the property, representing the seller, then lining up a qualified developer/buyer. A similar 2021 Fishtown transaction for a property located at 817 Aramingo Avenue was 12,000 square feet and closed in April of that year for $2.32M ($180+ a square foot). Land development transactions can be very complicated. Smith is skilled at managing the buyer and seller in a constantly evolving market while keeping the transaction moving to close.
The East York Street property took nearly four years to sell. The rise in mortgage interest rates created a challenge, but the seller is pleased to have it finalized.
“I am grateful that the owner chose me to list their property,” said Smith. “My book of business has evolved into business-to-business transactions – the buyers are developers while builders and sellers are business/land owners. I love the excitement these deals bring and the fulfillment my buyers and sellers finally achieve success at closing.”
Long & Foster is an exclusive affiliate of Forbes Global Properties and one of the nation’s top real estate companies as part of HomeServices of America. For more information, visit LongandFoster.com.