Long & Foster Real Estate’s Philly Property Group has announced that their client, Philly Capital Group has begun the development of a luxury 20-unit residential building. The new luxury residences will be built on the site that Philadelphia’s renowned Jimmy G’s Steaks called home for 12 years.

The new development sold for $1.8M and is located at 689 N. Broad St. right across from the historic Divine Lorraine and Metropolitan Opera House (The MET). The project is currently under zoning submission and will shortly thereafter be in the building permit phase. The expected construction start date is Spring 2022 with completion in 2023.

“Our client, Philly Capital Group, is the perfect investment firm to complete this historic project and we are thrilled to see the addition of a classic building in our city,” said Abby Trimborn, co-founder & REALTOR® of Philly Property Group. “The negotiations were months long and tedious. We were competing with multiple offers and working with terms that are not commonly seen in our marketplace. With a creative and steady approach, we were able to beat the competition and secure the asset for our client.”  

Philly Property Group is a real estate team located in Northern Liberties operated by   Abby Trimborn and Bob Kiziroglou that specializes in new development projects in Philadelphia. Their team is No. 1 in units sold in Pennsylvania.

View the Philly Property Group on Instagram @PhillyPropertyGroup to follow the full journey of the development project. They will be documenting the full process to completion and get in-depth details on their blog at www.phillypropertygroup.com.

For more information contact Trimborn at 215-499-0887 or Kiziroglou at 267-353-4123. You can also visit their website at phillypropertygroup.com/.