Monthly Archives: July 2013

Philadelphia Archdiocese sells unused properties in auction

On behalf of Kaplin Stewart Meloff Reiter & Stein, P.C. posted in Real Estate Law on Jul 28, 2013.

Completing a real estate transaction can prove to be a positive move for both the seller and buyer. If the seller is looking to liquidate assets to have more funds on hand, a buyer can be of great service. At the same time, purchasing property can prove to be a sound financial investment for the buyer. This process can be completed in a fair and consistent manner so both parties can benefit the most.

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Mack-Cali changes focus: Philadelphia suburbs lose a landlord

On behalf of Kaplin Stewart Meloff Reiter & Stein, P.C. posted in Commercial Real Estate on Jul 26, 2013.

If the commercial real estate market has seen any gains since the recession, they have not been in the suburban Philadelphia office market. As far as rents are concerned, the slowdown started before the recession: To keep tenants in their buildings, landlords have held rents steady for 10 years or more. With hiring in a slump, more employees working at home and businesses opting for more shared space, office leasing has all but ground to a halt. 

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Parking may become zoning issue in Philadelphia apartment project

On behalf of Kaplin Stewart Meloff Reiter & Stein, P.C. posted in Land Use & Zoning on Jul 21, 2013.

When a developer is looking to move forward with a project, there are a number of critical steps that must be taken before ground is broken. In addition to securing funding, a real estate developer typically has to seek approval for his or her project from a local zoning board. Right now, a residential-commercial complex is being considered by a Philadelphia zoning committee.

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New Philadelphia restaurant stalled by old zoning restrictions

On behalf of Kaplin Stewart Meloff Reiter & Stein, P.C. posted in Land Use & Zoning on Jul 19, 2013.

Property owners and developers are often eager to take an existing space and turn it into something new and something that meets the needs of current customers and residents. However, this process can be quite difficult when these projects are often delayed because of old, outdated zoning and land use restrictions.

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Building collapse motivates state to consider new regulations

On behalf of Kaplin Stewart Meloff Reiter & Stein, P.C. posted in Construction on Jul 17, 2013.

The Pennsylvania General Assembly is following the city of Philadelphia’s lead in the aftermath of the June 5, 2013, building collapse. The demolition of a Center City building went terribly wrong when a four-story brick wall fell onto the adjacent one-story Salvation Army thrift store. Six people died, and 13 were injured. The collapse buried 19 people in rubble.

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Class action against mortgage lender will proceed

On behalf of Kaplin Stewart Meloff Reiter & Stein, P.C. posted in Real Estate Law on Jul 15, 2013.

A federal judge in Philadelphia has determined that a class action lawsuit against HSBC USA Inc. and others can proceed — for now. The court was ruling on a motion to dismiss filed by the mortgage lender. The plaintiffs are not out of the woods yet, though: Down the road, HSBC could file a motion for summary judgment which, if granted, would put an end to the litigation.

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Commercial real estate market picking up in Philly?

On behalf of Kaplin Stewart Meloff Reiter & Stein, P.C. posted in Commercial Real Estate on Jul 9, 2013.

Philadelphia, like just about every other major metropolitan area in the country, has suffered from a lagging real estate market as ripples of the Great Recession continue to affect potential buyers and sellers of property. But, a few recent high profile commercial real estate transactions in Philadelphia could indicate that the market is again on the upswing.

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Philly neighborhood says ‘Not on our block’ to methadone clinic

On behalf of Kaplin Stewart Meloff Reiter & Stein, P.C. posted in Commercial Real Estate on Jul 6, 2013.

When the Court of Common Pleas reinstated their permit in June, it looked as though the owners of a new business would finally get to open their doors. The two have been fighting for two years to open a methadone clinic in Philadelphia’s Holmesburg neighborhood, facing staunch opposition from other businesses in the area.

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After building collapse, city focuses on construction rules

On behalf of Kaplin Stewart Meloff Reiter & Stein, P.C. posted in Construction on Jul 2, 2013.

The collapse of a wall at a demolition site in Philadelphia on June 5, 2013, served as a wake-up call for cities across the country. While investigators believe the sobriety of a demolition worker likely played a part in the collapse — and the deaths of six people — authorities may not have a complete picture of what happened for some time.

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