This Arch Street property is actually a combination of two buildings that include street level retail, office space, and loft apartments. The apartments feature all the Old City standbys: exposed brick, big windows, and hardwood floors. So why isn't it selling? The listing has been active since May.
It's possible that the owner was too ambitious with the original asking price, but this listing has chopped substantial amounts off its ask three times now. The original listing price, $4.6K, was brought down to $4.3K in August, $4.1K in October, and finally $3.9K in November.
Is the problem that the price is too high? Is such a diverse group of uses (office, retail, and residential) daunting to potential investors who don't want to manage so many different types of leases? Will the price have to drop again before someone will take the risk?
· 113 Arch St #15 [Trulia]