Real estate transactions 2007 on Main Street

5129-35 Frankford Avenue was sold on 4/30/2007 for $3,732,000. See the BRT link for the details of the transaction.

Real estate transactions 2007 on Main Street

4740 Frankford Avenue was sold for $268,000 on 8/10/2007. See the link to the BRT for the transaction details.

Real estate transactions 2007 on Main Street

5101 Frankford Avenue was sold for $120,000 on 3/6/2007. See this link to the BRT for the transaction details.



No that is not a funny face on the front door, it is graffiti that the owner should remove. Absentee owner who does not have to look at it everyday.

Real estate transactions 2007 on Main Street

5025 Frankford Avenue was sold for $25,000 on 8/16/2007. It is a vacant lot. See this link to the BRT for the details. 5027 Frankford Avenue was sold on $120,000 on 5/30/2007 See this link to the BRT for the details.

Real estate transactions 2007 on Main Street

4909 Frankford Avenue was sold for $160,000 on 7/26/2007. Follow this link to the BRT for the transaction details.

Real estate transactions 2007 on Main Street

4804 Frankford Avenue was sold for $128,000 on 2/15/2007. Follow the link to the BRT for the transaction details.

Real estate transactions 2007 on Main Street

4850 Frankford Avenue was sold for $70,000 on 3/1/2007. Follow this link to the BRT for details of the transaction.

Real estate transactions 2007 on Main Street

4802 Frankford Avenue was sold for $118,000 on 4/18/2007. Follow this link for the details on the BRT.

Absentee landlords

As I was compiling data on our study of real estate transfers, I was surprised to find two owners of property on Main Street who lived in Brooklyn, New York. My first thought was how well could you manage real estate from that distance. That is commercial real estate though and I thought maybe that is different. I took a quick look at some residential blocks and the number of absentee landlords was impressive. Now that is problematic.

This is from the New Gleaner"

There are plenty of things to gripe about in any city, but in Philadelphia, one of the top five seems to be complaining about absentee landlords. They have become the stereotypes of urban evil, almost on a par with drug dealers in ruining neighborhoods.Camille Capobianco wants the City Council to do something about the out-of-towners and their poorly maintained properties and rowdy renters.

And much needs to be done, she said, because right now, some landlords are little better than predators.

She refers to a neighborhood property in which the tenants were selling drugs and were finally removed. But the landlord has a “for rent” sign up, “and the neighbors are terrified,” she said.

The Tacony woman, who was a landlord herself, has put together a petition whose points she hopes will become city law.

Read the entire story here. She makes a very reasonable and rational argument that deserves to be considered. You can bet the real estate professionals will line up against it.

Real estate transactions 2007 on Main Street

4677 Frankford Avenue was sold on 3/29/2007 for $123,000. Transaction details at this link to the BRT. Picture to the right is the older. To the left is what it looks like this week.

Real estate transactions 2007 on Main Street

4674 Frankford Avenue was sold on 4/17/2007 for $247,350. A sign on the building now says an early childhood learning center is coming to the location. Transaction details at this link to the BRT.

Wedge Medical and the facts of life

Diane Prokop at the Northeast Times has done her usual fine job of summarizing the Frankford Civic meeting last week on the subject of Wedge medical. Wedge came to the meeting with letters of support from a handful of politicians who must have carefully studied the workings of this "for profit" company and then concluded that they were very fine folks and deserve to exploit Frankford to enhance the corporate bottom line.

The facts of life are that politicians do not support anybody unless there is something in it for them. The owners of Wedge (Minda and Armando MAGUNDAYAO) are listed several times as contributors to the Friends of Dwight Evans in 2006. They were smaller contributors to the Friends of George Kenney in 2004. Does this make a difference? Yes. It's the way the system works.

We are not against these services. They are needed. But this one is not needed in this place and at this time. It's legal but its not wanted.

Real estate transactions 2007 on Main Street

4657-59 Frankford Avenue was sold for $175,000 on 4/13/2007 . See the BRT for details here.

This picture was taken last week. Sale sign on the building makes us think it is on the market again.

Art holiday

The Art Holiday is on the market.

Follow this link to the listing at Prudential Fox and Roach

$275,000

Address withheld at
seller's request
Philadelphia, PA 19124-4525
Listing No: 4784340

Call agent for details. Business included. Do not visit property without appointment.

Home Details

Type: Commercial Age: 100 yrs Lot Size: 8,849 Sq. Ft. Lot Dim.: 78X113

County: Philadelphia Zip: 19124-4525 Sub/Nei: None Available School District: Philadelphia

Real estate transactions 2007 on Main Street

On 10/9/2007 4649-51 Frankford Avenue was sold for $32,000. I previously wrote about that new business opening on Main Street. See the BRT for details here.

Real estate transactions 2007 on Main Street

The next transaction on the list is the sale of 4621-27 Frankford Avenue to NET on 6/14/2007 for $635,000. This transaction has been previously discussed.

On 10/11/2007 4640-42 Frankford Avenue was sold for $355,000. Picture to the left shows the building as it appears today. It is not much different than it was in 1954 when it was a Sun Ray drug store where I bought my first camera. See the BRT for the details here.

Real estate transactions 2007 on Main Street

On 7/6/2007 4530 Frankford Avenue was sold for $155,000. See the BRT for details here.



The picture to the left is as the building looked at the time sale. Picture to the right shows an updated view.

Real estate transactions 2007 on Main Street

On 4/3/2007 4458 Frankford Avenue (image to the left) was sold for $45,000. See BRT details here.



On 3/27/2007 4516 Frankford Avenue (image to the right) was sold for $60,000. See BRT details here.

Real estate transactions 2007 on Main Street

On 8/29/2007 4441-49 Frankford Avenue was sold for $300,000. the details of the sale come from the BRT web site link here.


You can see some improvements have been made in this newer picture to the right taken this week.


On 7/2/2007 4458 Frankford Avenue was sold for $45,000. Details at the BRT web site via this link.

Is another big rehab coming to Main Street Frankford?

I reported last week about how we are reviewing the real estate transactions on Frankford Avenue. One of the largest took place July 16 of 2007 with the purchase of 4243-47 Frankford Avenue for $510,000 by Berkley Property LLC.



The legal address for Berkley is 1010 Shepard Road in Blue Bell. This is the same address as the Wedge Med Corporation a major provider of substance abuse services. They are making significant improvements to the property.

We have no more accurate information at this point but we'll continue to research the issue.