Philadelphia Metropolitan Area Real Estate Law Blog

Philadelphia real-estate developer Ori Feibush had an article published in the Daily News last week in which he recounted how the Philadelphia Redevelopment Authority had ignored him after he made numerous calls expressing interests in purchasing or leasing a run-down vacant lot next to his coffee shop. Frustrating with the long-time non-responsiveness and the harm being done to his business, Feibush went ahead with some improvements on that property.

According to the Pittsburgh Post Gazette, Philadelphia developer PMC Property Group is quickly becoming a leading property owner in downtown Pittsburgh. The developer recently bought a 30,000 square-foot building downtown for $525,000. The purchase pushes PMC very close to the 1 million square feet mark in terms of real estate ownership.

According to a recent article in the Philadelphia Business Journal, the number of construction contracts in the Philadelphia area fell in July compared to the same period last year, even though year-to-date construction activity is at roughly the same level.

Since the economic slowdown, there has been a pullback from real estate investing, but things have recently begun to pick up in real estate. Even the likes of Warren Buffet are noticing the trend and taking advantage of it.

Two of the most prominent developers in the Philadelphia area, after working on projects together since 2010, are now locked in a legal battle involving allegations that one siphoned money from two projects the other had undertaken and excluded him from another project. The plaintiff in the case seeks $1.4 million in damages and the right to inspect documents related to each of the three projects. The defendant in the case has called the allegations unfounded.

It isn’t often that a national perspective on the real estate market is offered. For the most part, those in the profession tend to focus on commercial, construction, residential or some other specialized market.

Officials in Camden County recently announced that the Pennsauken Mart site, which was set be demolished and replaced with a hockey arena and convention center seven years ago, will now become the site of residential development next summer.

Philadelphia City Council efforts to revise important development regulations were once again postponed following two meetings in as many weeks. The delays have drawn criticism from those who believe the Council is dragging its feet in revising the zoning code. But others feel that, with a code dating back to the 1930s, taking a little more time to get the revisions right is a good approach.

In an era when many shopping malls are struggling, obtaining a stake in a successful shopping mall can be a difficult task. After all, there are not many successful shopping malls for sale, and the lucrative malls that are for sale are often very expensive acquisitions.

Over the last few weeks, a man who was able to move into a $300,000 home for about $16 has grabbed quite a few headlines. The Texas man used a quirk in real estate law called “adverse possession” to move into the abandoned home after filing an affidavit with a court and moving into the home. If he is able to stay in the home long enough, he will get full legal title to it. This leaves many of our readers wondering if this could happen in Pennsylvania. The answer is yes and no.