Beyond the Big 3: 2012 Lower Merion Condo Sales

Penthouse Unit at Mansard House: 200k

While Oak Hill, Presidential and Green Hill combine for about half of all condos sold in Lower Merion, a plethora of options exist from Bala Cynwyd to Bryn Mawr. This bi-level Penthouse unit at Montgomery Ave's Mansard House offered a spectacular view of the Merion Cricket Club's opulent fields of green. This unit needed an overhaul and a major kitchen revamp but sold for a very modest $200,000 given the dynamic location. Fees below are monthly.

Building	Street Address	Sold	Beds	Baths	HOA
1219 Wynnewood	1219 W Wynnewood 508	$136,000	1	2	$400
1219 Wynnewood	1219 W Wynnewood 511	$182,000	2	2	$423
1219 Wynnewood	1219 W Wynnewood 103	$195,000	2	2	$423
Ardmore Crossing	209 Cobblestone Dr	$345,000	3	2.1	$265
Ardmore Crossing	232 W Spring Ave	$370,000	3	2.1	$265
Benson House	930 Montgomery Ave 603	$231,250	3	2	$571
Cambridge Sq	120 Sibley Ave 205	$410,000	3	2	$609
Cambridge Sq	120 Sibley Ave 202	$550,000	2	2.1	$607
Churchill Court	237 W Montgomery 3J	$300,000	3	2.1	$462
Corinthian	190 Presidential Blvd 304	$525,000	2	2.1	$850
Corinthian	190 Presidential Blvd 419	$660,000	3	3.1	$1,185
Corinthian	190 Presidential Blvd 418	$725,000	3	3.1	$1,184
Corinthian	190 Presidential Blvd PH1	$830,000	3	3.1	$1,105
Graystone	428 W Montgomery 8C	$190,000	2	1.1	$412
Greenhouse	19 Rock Hill Rd 3E	$119,000	2	2	$450
Greenleaf	61 Llanfair Rd A4	$113,000	2	1	$350
Greenleaf	102 Llanfair Rd 2-1	$210,000	2	2	$250
Greenleaf	102 Llanfair Rd 1-1	$216,500	2	2	$250
Hampshire	104 Woodside Rd C301	$235,000	2	2	$382
Hampshire	104 Woodside Rd A101	$265,000	3	2.1	$484
Haverford Towers	260 W Montgomery 204	$167,000	3	2	$444
Haverford Towers	260 Montgomery Ave 404	$290,000	3	2	$488
Hunter House	449 W Montgomery 303	$97,500	1	1	$480
Hunter House	449 W Montgomery 203	$102,500	1	1	$491
Hunter House	449 W Montgomery 301	$180,000	2	1.1	$650
Ivyside	919 W Montgomery Ave G3	$151,000	2	2	$220
Ivyside	919 W Montgomery Ave 2-3	$164,650	2	2	$230
Latchs Lane	40 Old Lancaster Rd 204	$145,000	2	2	$495
Mansard House	264 W Montgomery 401	$200,000	1	2	$634
Mansard House	264 W Montgomery 404	$351,500	2	2	$611
Mayflower Square	922 W Montgomery Ave K1	$124,000	2	1.1	$323
Montgomery Ct	119 E Montgomery Ave 7	$496,000	4	3.1	$303
Narberth	312 Windsor Ave A	$255,000	2	2	$200
Pennswood	601 W Montgomery 102	$250,000	2	2	$491
Sutton Terrace	50 Belmont Ave 301	$89,900	1	1	$571
Sutton Terrace	50 Belmont Ave 711	$160,000	2	2	$794
Sutton Terrace	50 Belmont Ave 1002	$296,000	2	2	$794
Sutton Terrace	50 Belmont Ave 505	$305,000	2	2	$794
Thacher Ct	251 W Montgomery  9	$590,000	4	3.1	$350
The Fairmont	41 Conshohocken St 104	$141,000	2	2	$886
The Fairmont	41 Conshohocken St 301	$185,000	2	2	$805
The Fairmont	41 Conshohocken St 306	$220,000	2	2	$805
The Fairmont	41 Conshohocken St 711	$273,500	2	2	$1,055
The Fairmont	41 Conshohocken St 714	$275,000	2	2	$763
Wynnewood Plaza	346 E Lancaster Ave 514	$117,500	1	1	$305
Yorklynne Manor	415 City Ave J1	$120,000	2	2	$555
Yorklynne Manor	415 City Ave B3	$155,000	2	2	$542



Ardmore Restaurants: Barbacoa is Latest of Expanding Options

Ardmore's Barbacoa: Highest Quality Comfort Food in Town.

Barbacoa is the latest of ever-evolving Ardmore's  affordable refreshment outposts to emerge in the summer of 2012. Located at 64 Rittenhouse Place, the Menu features a variety of lean and delicious slow roasted meats, including chicken, ribs, pulled pork and brisket, served as either platter or sandwich. I feasted on the half-pound brisket platter slathered in tangy barbecue sauce with ample side dishes including homestyle coleslaw and thick wedge fries with exceptionally deep potato flavor.

Sentiment Posed By Barbaco's Decor

The Boy also got the brisket, but his was piled high on a fresh Sarcone's roll with a side of tres sincere macaroni and cheese. Heather went for the grilled chicken sandwich and melt-in-your-mouth cornbread pudding. The three of us heartily strapped on the feedback and chowed-down mightily for about 40 bucks. Despite packing in the grub, we waddled out feeling full and enthralled without that bloated sensation one gets from less-than-the best, sodium laden meats and sides.

The atmosphere at Barbaco is quasi-hacienda and pleasantly laid-back, but the dining area is limited so be prepared to wait or indulge in the many Take-Out specials designed to feed a whole family or just yourself. R5 recommends popping into the Rittenhouse Deli next door and picking up a takeout six-pack from their large and well-priced selection. BYOB is welcome at Barbacoa and the staff was happy to keep our standby brews on ice until summoned.

Barbacoa is typical of the enterprising, positive spirit of the Ardmore commercial district these days, making it an increasingly exciting place to live, invest, or visit. There's a reason Ardmore keeps coming up in this blog. No other area on the Main Line is its equal as  a magnet for innovation, experimentation, diversity and fun.

Big 3 Condos in Lower Merion Dominate Market Share

Twenty-four condominium Buildings in Lower Merion saw transactions in the first 7-plus months of 2012, yet half the sales were in one of the Big 3: Presidential (Bala Cynwyd), Greenhill (Wynnewood), or Oak Hill (Penn Valley). Presidential and Green Hill both include utilities their monthly fees, while Oak Hill does not. Deals and luxury are available in all these buildings and each speaks to a different clientele.

The Presidential is just off the junction of City Ave (Rt.1) and I-76 (Schuykill Expwy). Convenient to points East, West and North, this high-rise is long on convenience and functionality. The Greenhill is Southward down City Ave, situated next to Lankenau Hospital and the closest of these abodes to Delaware County and points South. Oak Hill is the most bucolic and diverse of the Big 3, offering low-rise, hi-rise and townhouse options in a more-wooded setting, convenient to I-76 and points Westward such as King of Prussia and Conshohocken

2012 Prices Paid to Date in Lower Merion's Three Most-Active Condominium Communities

Building Address	Develoment	Beds	Baths	Sq Ft.	Fee/Mo.	Sold For
1001 City Ave EE420	Green Hill	1	1	910	$570	$60,000
1001 City Ave ED730	Green Hill	1	1	1,014	$570	$64,000
1001 City Ave WB310	Green Hill	1	1	910	$570	$65,000
1001 City Ave EC1111	Green Hill	1	1	910	$570	$67,500
1001 City Ave EE527	Green Hill	1	1	910	$564	$68,000
1001 City Ave EC911	Green Hill	1	1	910	$556	$73,500
1001 City Ave WB416	Green Hill	2	2	1,222	$880	$89,500
1001 City Ave WB417	Green Hill	2	2	1,222	$748	$94,000
1001 City Ave EC1007	Green Hill	2	2	1,222	$717	$95,000
1001 City Ave WA204	Green Hill	2	2	1,222	$767	$105,000
1001 City Ave WA506	Green Hill	2	2	1,222	$767	$105,000
1001 City Ave WA402	Green Hill	2	2	1,222	$880	$107,000
1001 City Ave EE325	Green Hill	2	2	1,222	$880	$111,000
1001 City Ave WB611	Green Hill	2	2	1,222	$860	$115,000
1001 City Ave ED715	Green Hill	2	2	1,222	$880	$132,000
1001 City Ave ED715	Green Hill	2	2	1,222	$880	$135,000
1650 Oakwood Dr E111	Oak Hill	1	1	858	$295	$108,000
1640 Oakwood Dr W311	Oak Hill	1	1	858	$295	$129,000
1650 Oakwood Dr E104	Oak Hill	1	1	858	$295	$130,000
1600 Hagys Ford Rd 1N	Oak Hill	3	3	1,385	$873	$150,000
1650 Oakwood Dr E221	Oak Hill	2	2	1,120	$395	$160,000
1600 Hagys Ford Rd 6F	Oak Hill	2	2	1,495	$821	$180,000
1750 Oakwood Ter 15A	Oak Hill	2	2	1,247	$442	$200,000
1640 Oakwood Dr W-306	Oak Hill	2	2	1,144	$406	$205,000
1650 Oakwood Dr E-205	Oak Hill	2	2	1,144	$400	$222,500
1750 Oakwood Ter 15H	Oak Hill	2	2	1,299	$455	$237,000
1600 Hagys Ford Rd 4Y/4Z	Oak Hill	3	2.1	2,000	$1,016	$255,000
191 Presidential Blvd R403	Presidential	1	1	971	$869	$85,000
191 Presidential Blvd R419	Presidential	1	1	1,371	$874	$92,500
191 Presidential Blvd R300	Presidential	2	2	1,391	$969	$100,000
191 Presidential Blvd R402	Presidential	2	2	1,480	$979	$100,000
191 Presidential Blvd R315	Presidential	1	1	915	$717	$110,000
191 Presidential Blvd R705	Presidential	2	2	1,764	$1,602	$119,000
191 Presidential Blvd R717	Presidential	2	2	1,764	$1,281	$150,000
191 Presidential Blvd R408/	Presidential	2	2	1,912	$1,509	$156,000
191 Presidential Blvd R1028	Presidential	2	2	1,877	$1,242	$275,000
191 Presidential Blvd R504	Presidential	2	2	2,169	$1,953	$399,000
191 Presidential Blvd R914	Presidential	4	3	2,919	$2,539	$400,000

Ardmore Thrives Amidst Lower Condo Prices Near Suburban Square

Sibley Ave. Prices down; Outlook Up

Back in Early fall 2007, it took only about 100 days for most every unit at the newly constructed Cambridge Square Condos (at Ardmore Farmers' Market) to sell out. Prices paid for the initial offering ranged from $570k to nearly $950k. The housing market seemed unstoppable and the future blindingly bright. Developers planned a Phase II second building in between the first structure and the parking lot behind Trader Joe's.

Fast forward 5 years ... And while the future is still bright for this vibrant and extraordinarily well-located building, Phase II  has yet to happen and the first units to be resold are fetching significantly less than the original owners paid. Two of the three resales to date came in Spring 2012 at discounts of about 42% and 32% off initial sales price. Unit 202 offers a grand 2152 sq. ft of living space and its own private patio. First Buyers paid $945,000 in late 2007. Second buyers - late June 2012 - only $550,000. In May of this year, the more understated 1500sq ft. unit #205 resold for $410,000, nearly 32% off the initial buyers cost $599,900.

Ardmore Continues to Grow in Good Ways

The only other unit to be resold came in at 25% discount (925k in 2007 versus 700k in June 2011). Throughout the Mainline, discounts of 15-25% off condo prices from last decade's highs are not uncommon. Some older buildings with banal locations may never fully recover, but we're bullish that Cambridge Square's youth and dynamic location in ever-evolving downtown Ardmore will thrive in the long run.

Realtor's Apocalyptic Evening at Belmont Hills Pool

Described here:  July 26 Philly Storm invades NYC,  photo by Orangeadan@ Flickr

 Was swimming in the Belmont Hills Pool at 7:25pm last night (Thu July 26), when lifeguards abruptly told everyone to get out due to thunder... I wasn't alone in my dismay. Didn't hear any thunder and though the sky was overcast, it didn't have any of the usual threatening tones indicating a storm closer than an hour or so away.

I Assumed the Guards had a party or something and wanted to shut down early, but what are you gonna do but get out and take a shower? I will never doubt the LM Swim Authorities again and ashamed to say I did. Because when I emerged from the changing room ten minutes later, the sky was a roiling, boiling, growl of black bulbous Mushroom clouds like I have never around here - CGI-style, cinematic jumbled with apocalyptic are the best terms I can find to describe.



Above BH Roller-Rink 7/27/12 730pm

In the minute it took to reach the safety of my car and retrieved my cell phone for photographs, the most terrifying, plague-like buboe clouds had unfortunately been blown Eastward with alarming velocity. The pictures I snapped don't capture bowel-loosening drama of the storm's leading edge but it was every bit as irritated and ominous as the image above. While the wind and rain that followed moments later was intense, the storm itself was pedestrian and common compared to the unprecedented rapidity and sudden-drama with which it emerged. Driving around the next half-hour, steering around the usual fallen limbs that accompany our summer storms, the talk-show hosts and weather folks on 1210 and KYW echoed and confirmed my impression that this storm packed a dark speed seldom seen in our area.

Fortunately, the radio-talkers also confirmed that unlike Elmira, NY earlier in the day, tornadoes and their extreme destruction were not part of the package -- this time. Sudden, heat-included, violent storms of this nature are known as "Derechoes". Scientist indicate one derecho every 2-4 years is a historical average for the Delaware Valley. We've now had 2 in two weeks. Kind of scary, but when it comes to likely climate-change-induced extreme weather, all-in-all I'd rather be in Philadelphia where our extremes are milder than much the rest of the nation.

New Ardmore Brew Pub Pours Progressive Refreshments

R5Realty Says: Thumbs Up forTired Hands

Don't be fooled by its relatively non-descript facade and unassuming location at Lancaster and Ardmore Avenues. The Tired Hands Brewing Company (16 Ardmore Ave., Ardmore, Pa.), is the most exciting drinking/dining development Ardmore  has seen in years. The brainchild of youthful brew-master Jean Broillet IV, Tired Hands presents a delightful brew pub experience that is bound to become a cherished cove for refreshment and tasting exploration.

While this space is primarily reserved for topics related to R5-area Real Estate and not Mystery Muncher reviews, R5Realty News&Notes observes that Quality of Life is key to residential real estate values and desirability. We assert that Tired Hands Brewing Company boosts quality of life on the lower Mainline.


With its Portlandian ethos, vibe and decor, THBC is the essence of Relaxed Craftsmanship and dedication to a high standards. Its specialty is the French/Belgian Farmhouse Ales brewed onsite and available on tap in serving sizes (4oz. only $2), which encourage experimentation and adventure. Whether its Broillet or one of the knowledgeable staff behind the bar, the alchemy of what's flowing is made accessible and interesting for the both the lay-quaffer and the afficianado alike.

Owner Broillet at airy Upstairs Bar

THBC's culinary model is inspired by the fare of the traditional Belgian/French cafes . The menu is inexpensive, simple and satisfying, consisting primarily  of cheese and charcuterie plates and sandwiches. Ingredients are sourced locally, within 100 miles whenever possible and include cheeses and meats from locales such as Chester Springs and Warminster. I sampled the Lancaster Bologna and Cheese pannini with a side of tangy gazpacho, which went great with

Come to the Tired Hands Brewing Company with friends, something engaging to read, or a willingness to engage your fellow patrons. The first-floor pub space is handsome but kind of a tight squeeze when crowded; however, the wide-open upstairs room offers ample and airy space to unwind. By design there is no Television in the brew pub. Like I said, its a throw-back place but in a progressive kind of way. 


Broillet sums up THBC's ethos on the establishment's website:
"We value local over imported, small batches over mass production, and striking a successful balance between giving back to our community and personal profit.  Localization guides everything we do, from sourcing raw ingredients and materials, to employing area talent."

http://www.tiredhands.com/

June Sales for Delco Darlings: South Ardmore and Havertown

This 1800 sf single in the Brookline section of Havertown recently sold for $325,000, plus a $10,000 sellers assist for closing costs. Very handsome home with large remodeled kitchen, sweet backyard and in walking distance to Brookline shops. The net buy price of 315k represents an approx 10% discount from previous sale price in 2007, not uncommon for area homes' descent from peak value.

June's Home Sales Transactions in Havertown & South Ardmore Portions of Delco

Street Address	Town	Beds	Baths	sqft	Ask For	Sold For
617 Loraine St	Ardmore	3	1	1,632	$149,000	$131,000
2203 Bryn Mawr Ave	Ardmore	3	1	1,260	$210,000	$205,000
2622 Chestnut Ave	Ardmore	5	2	1,406	$230,000	$205,000
11 Patton Dr	Ardmore	3	1.1	1,616	$229,900	$220,000
2812 Haverford Rd	Ardmore	3	2	1,444	$235,000	$230,000
2229 Avon Rd	Ardmore	3	1.1	1,218	$249,900	$230,000
2516 Belmont Ave	Ardmore	3	1	1,508	$224,900	$232,000
2316 Belmont Ave	Ardmore	3	1	1,356	$249,000	$245,000
826 Aubrey Ave	Ardmore	4	1.1	1,487	$269,000	$252,000
2929 Morris Rd	Ardmore	3	1.1	1,556	$275,000	$264,300
743 Humphreys Rd	Ardmore	3	1	1,182	$268,000	$265,000
2926 Berkley Rd	Ardmore	3	1.1	1,556	$275,000	$268,000
635 Loraine St	Ardmore	3	2	1,968	$275,000	$268,000
2412 Olcott Ave	Ardmore	3	2	1,446	$325,000	$297,000
2936 Normandy Rd	Ardmore	3	2	1,645	$315,000	$302,000
645 Woodcrest Ave	Ardmore	4	2.1	2,365	$320,000	$320,000
2933 Normandy Rd	Ardmore	4	2	1,779	$365,000	$360,000
120 Shawnee Rd	Ardmore	3	2.1	1,804	$414,900	$390,000
626 Ardmore Ave	Ardmore	5	2.1	2,917	$499,000	$493,775
318 Walnut Hill Ln	Haverford	3	1	1,380	$159,900	$160,100
27 W Manoa Rd	Havertown	3	2	1,719	$125,000	$130,000
1409 Fairview Ave	Havertown	4	1	1,709	$175,000	$170,000
312 Lincoln Ave	Havertown	4	2	2,134	$189,000	$174,199
461 Olympic Ave	Havertown	3	1.1	1,392	$174,900	$175,000
412 Mill Rd	Havertown	3	2.2	1,788	$219,000	$195,000
103 E Turnbull Ave	Havertown	4	1	1,629	$209,900	$195,000
616 Country Club Ln	Havertown	4	1	1,507	$209,000	$206,000
1313 Robinson Ave	Havertown	3	1.1	1,536	$219,500	$206,000
38 Rodman Ave	Havertown	3	1	1,264	$209,900	$207,000
1330 Delmont Ave	Havertown	3	2.1	1,189	$215,000	$208,000
300 Canterbury Rd	Havertown	3	2.1	1,325	$234,900	$225,000
1740 Hawthorne Ave	Havertown	4	1.1	1,532	$229,000	$229,000
117 Sycamore Rd	Havertown	3	1	1,400	$234,900	$230,000
122 Foster Ave	Havertown	4	2.1	1,872	$250,000	$235,000
429 Hastings Ave	Havertown	4	1	1,477	$249,900	$240,000
1454 Maryland Ave	Havertown	3	1.2	1,625	$240,000	$240,000
1425 Maryland Ave	Havertown	3	2	1,925	$275,000	$250,000
209 E Turnbull Ave	Havertown	3	2	1,259	$259,900	$250,000
136 Walnut Hill Ln	Havertown	3	2	1,438	$257,900	$257,900
220 Heatherwood Rd	Havertown	3	2	1,292	$279,000	$264,600
18 Hastings Ave	Havertown	3	1.1	1,560	$269,900	$266,000
437 Colfax Rd	Havertown	3	1.1	1,259	$279,900	$270,000
600 S Eagle Rd	Havertown	5	3	3,291	$285,000	$279,000
1724 Mount Pleasant	Havertown	3	2.1	1,978	$279,900	$282,000
1603 Melrose Ave	Havertown	3	1	1,350	$290,000	$288,000
20 Nancy Dr	Havertown	3	2.1	1,998	$290,000	$289,000
1401 Kingsley Rd	Havertown	3	2	1,481	$295,000	$305,000
210 Sagamore Rd	Havertown	3	2	1805	$325,000	$325,000
306 Francis Dr	Havertown	3	2.1	2,240	$339,900	$325,000
114 Myrtle Ave	Havertown	3	2.1	2,120	$335,000	$326,000
1425 Kingsley Rd	Havertown	4	3.1	2,528	$359,900	$345,000
215 Sagamore Rd	Havertown	3	2.2	1,950	$350,000	$355,000
609 Beechwood Dr	Havertown	3	2	1,996	$375,000	$375,000
34 Llandillo Rd	Havertown	4	2	2,158	$375,000	$375,000
2601 W Darby Rd	Havertown	5	2.1	2,319	$395,000	$395,000
312 Mill Rd	Havertown	4	3.1	2,164	$450,000	$400,000
18 N Morgan Ave	Havertown	4	3.1	2,179	$439,000	$440,000
114 E Park Rd	Havertown	6	2.2	2,733	$499,900	$457,500