Monthly Archives: December 2015

As 2015 winds down, many people are looking back and reflecting on the year. This is not an uncommon practice and people do it for a variety of matters, including real estate. A reporter for the Philadelphia Business Journal recently did this for real estate in the Philadelphia area.

Readers are likely aware that there are many ways in which a lawyer can be of assistance to a business. One thing they can help with is deciding where the business will be located. This is true regardless of the type of business or whether it seeks to lease or purchase property. In this post we will focus on some of the specific tasks an attorney can help with.

Residents of the Philadelphia area may be aware of the recent sale of the Latham Hotel located at 17th and Walnut Streets. In conjunction with the sale, hotel operations ceased. The new owners plan to convert the building, completed in 1915, back to what it was originally used as—an apartment building. The numerous hotels located in the area played a role in the sale. According to a senior vice president at PKF Consulting/CBRE Hotels, because of the rents in the area,  it made more economic sense to convert the building back to residential use.

There are many things that make a parcel of real estate valuable. Believe it or not, according to a recent market study, throughout the nation, the presence of craft breweries is one of those things. Small breweries are popping up in cities such as Philadelphia, and as compared to large breweries, among other things their presence is having a positive impact on the value of real estate in the area where the brewery is located.  

Real estate transactions are generally complex. Before a deal can be finalized, there are many pieces that must fall into place. One of those pieces is financing. If financing for a purchase is not secured, the transaction will not happen. Because of this it is vital that a purchaser lines up financing, and, if problems concerning that financing arise, they are promptly addressed.