news 4 days ago

Riverfront townhouse project near SugarHouse sold to NY developer

Philly.com — Jacob Adelman Philly.com

June 19--A New York-based development team has acquired a 19-townhouse project along a strip of riverfront land facing the southern edge of Penn Treaty Park in Fishtown, near SugarHouse Casino.

Gotham Bedrock LLC paid $7 million last week for the 1.5-acre property between North Delaware Avenue and the Delaware River near Marlborough Street, George Polgar, a spokesman for seller Penn Treaty Views LLC, said in an email.

The property at 1143-51 N. Delaware Ave. has permits for construction of the row of four-story townhouses, most of them 3,800 square feet, designed by Philadelphia-based Abitare Design Studio, Polgar said.

Gotham Bedrock, led by principals Alex Halimi and Saul Mazor, plans to begin developing the site immediately, he said.

Penn Treaty Views is a partnership involving Northern Liberties-based developer Shovel Ready Projects LLC and Philadelphia-area music-venue impresarios Allen and Adam Spivak. The partnership acquired the site at auction in July 2016 for about $4 million, according to records filed with the city.

Shovel Ready also is marketing a nearby pier where the never-built Trump Tower Philadelphia was planned, with designs for a townhouse development at that site as well.

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