More than 50 percent of the high-end homes at Southwark on Reed, a 91-townhouse development on the former Mt. Sinai Hospital site, have been sold.
The developers—Concordia, D3 Developers, and Resmark Companies—announced yesterday that at the current rate, they’re on track to sell the rest of the homes by the end of this year.
The townhouses, which range from 2,300 to 3,200 square feet, are on the market from the $500,000’s to high $600,000’s. They’re mostly 3-bedrooms, although the most spacious homes have four bedrooms.
According to the announcement, the new owners of the homes are from all over the Mid-Atlantic region, with some attracted to location to Navy Yard and others wanting to be close to the restaurant and retail corridor of East Passyunk Avenue.
The fourth and final phase has already hit the market, and the whole $40 million development is expected to finish up in 2018.
- Southwark on Reed Townhomes on Ex-Mt. Sinai Site Now for Sale [Curbed Philly]
- Southwark on Reed: 1st Phase of Homes at Ex-Mt. Sinai Site Sold Out [Curbed Philly]
- Southwark on Reed [Official]