The wraps are still on the cabinets and appliances in this almost-finished apartment in the Adams. Most of the units on the 12th floor are move-in ready, though one isn’t yet because it’s being used for construction staging. | Photos: Sandy Smith
Post Brothers’ Presidential City Rejuvenation Derby has entered the home stretch. When it’s finished, the iconic four-building apartment complex erected in 1951-53 by prolific Philadelphia builder John McShain (aka “The Man Who Built Washington”) will present a totally 21st-century face to passers-by.
Three of the four towers — the Washington, Jefferson and Madison — have been completed, as has the complex’s all-new on-site resort, the Sora Pool Club, which made its debut with a splash last summer. The Adams, the family-friendly tower of the bunch, is well past the halfway mark to completion of its makeover, with its upper floors ready to receive tenants. Read more »
This rendering by Philippe Maidenberg shows how his use of color will enliven the residents’ lounge at the Adams.
If you’ve followed my reporting on Post Brothers, you should know that I’m a huge fan of the Pestronk brothers’ theatrical flair. Whether it’s in design, marketing or public relations, Post Brothers knows how to grab your attention and hold onto it.
Now, as they turn to renovating the last of the four towers they’re making over at Presidential City on City Avenue, they’ve taken their eye for style and talent for showmanship above and beyond their usual standard.
To do this, they’ve enlisted outside help, namely, internationally known French architect Philippe Maidenberg, who has added a dash of color and whimsy to the lobby and model units at the Adams.
(Wait. Wasn’t it Jefferson who went to Paris? No matter. Neither I nor Post Brothers insist on slavish devotion to every historical jot and tittle when invoking past Presidential glories.)
Post Brothers CEO Mike Pestronk explained why they decided Maidenberg was the right person for this renovation project. Read more »
What becomes a legend most? Post Brothers answered the question with stylish modern accents for the Roosevelt Apartments’ classically styled lobby. |Photos: Post Brothers
For decades, the Roosevelt Apartments at 23rd and Walnut streets has had a reputation as a decent, low-rent (for Rittenhouse) place to live with a great pub on the street floor.
Now that it’s in the hands of Post Brothers, it’s become a stylish place to live at modest (for Rittenhouse) rents. (The pub, however, is long gone.) And for three tenants, it will be even more than that.
This week, the Pestronk brothers took the wraps off the Roosevelt Edition, three super-sleek, ultra-stylish apartments inserted among the merely stylish units that make up the rest of the building. These deluxe units are equipped with many high-end fixtures, fittings and appliances, including showers lined with Travertine tile and equipped with thermostatic shower columns with hand-held sprays and rain shower heads, Miele multifunction glass-front speed ovens, custom European acrylic cabinetry, floating Italian vanities with storage, and more. Read more »
This architect’s rendering shows what 1520-22 Chestnut might look like once renovations are complete. | Rendering courtesy PH Retail Partners
“We’re bullish on Center City, and anytime we see an opportunity, we’re going to pursue it.”
That statement from Matt Pestronk explains in a nutshell why PH Retail Partners, the commercial real estate affiliate of Post Brothers, just purchased two properties on prime retail blocks west of Broad Street.
One, at the corner of 15th and Walnut streets, consists of three buildings with street-level retail and office space above. Two of the three retail spots are occupied, one by AT&T Mobility and the other by Club Monaco. The third space, whose last long-term tenant was a Puma store, currently has a pop-up tenant occupying the space. The other, a two-story retail building at 1520-22 Chestnut St., has been vacant since a Dollar Tree store closed last fall. Read more »
The Sora Pool Club. The Olympic-size lap pool is in the foreground, and the clubhouse is in the back. | Photo: Sandy Smith
Matt and Mike Pestronk, the brains behind Post Brothers Apartments, have a flair for in-your-face public relations, as those who recall the campaign they waged against construction-trades union members who picketed their Goldtex apartment conversion in Callowhill may recall.
They’re also experts at selling sizzle — but they also offer the steak to go with the sizzle.
Post Brothers formally took the wraps off the latest proof of their expertise last night (May 11) at the Presidential City apartment complex on the Philadelphia side of City Avenue in Wynnefield Heights. Read more »
The Just4Paws facility at the Rittenhouse Hill Apartments.
High-end luxury real estate is a competitive business. Amidst all the top-notch facilities springing up around the city, developers have to look for creative ways to stand out. It is with this in mind that the Rittenhouse Hill apartment community in Germantown has recently opened Just4Paws, a doggy daycare spot for residents of the building and those in the surrounding area.
“We just want to create the best living environment for our residents, with everything they would need,” said Mike Pestronk of Post Brothers, the developers of the complex. “Pets are members of the family, so we wanted to accommodate that.” Read more »
It looks like Post Brothers is poised to make yet another splash on the Philly real estate scene, only this time it’s through potentially selling two apartment buildings consisting of nearly 800 high-end units.
The Philly-based development company has placed two of their most recognizable properties on the market: Rittenhouse Hill in Germantown and the Goldtex building. For the latter, the news come just two years after successfully rehabbing (not without controversy) the defunct warehouse building into a glistening, 163-unit luxury apartment complex at 11th and Wood Street in Callowhill.
The move could prove to pay off quite handsomely for the company. A recent report from Commercial Real Estate Direct suggests Rittenhouse Hill, with its 626-units spread over two buildings, could move for $150 million–or $240,000 per unit.
Given its prime Center City location, Goldtex could fetch a far greater bounty. The building boasts a fancy roof deck with pool and skyline views, a fitness center, Brick & Mortar restaurant, and, in the not-too-distant future, a direct connection to the Rail Park. It also became the first apartment building in Philadelphia to be awarded LEED Gold Certification for its energy-efficiency and overall design.
Rittenhouse Hill ain’t too shabby, either, especially after a $52 million overhaul of the property brought in a modern look, an infinity edge swimming pool and hot tub, bocce courts, tot lot and dog run/washing station.
Read more »
The Goldtex Apartments officially received the Leadership in Energy and Environmental Design (LEED) Gold level certification this week, according to Mike Pestronk of Post Brothers, the developers of the green paneled building at 315 North 12th Street.
“It’s a pretty intensive process to get the certification,” said Pestronk, of the announcement. “We were surprised when we found that nobody else has this certification–and that nobody else is really pursuing it. It’s nice that it sets us apart, but it would kind of be better if we weren’t the only one.
“It’s a sad state of affairs for Philly. Developers don’t seem to care [about developing LEED Certified apartment projects].”
LEED is a rating program that uses a point system to determine how environmentally friendly a building is. Buildings are then judged according to the point system in a number of different categories, such as site sustainability, water efficiency and innovation. Goldtex is the first apartment building in the city to achieve the standard.
“A lot of consumers don’t know what LEED is,” said Pestronk. “It has as much to do with high quality design than greenness. It’s about making a healthy and happy living environment with things like air quality, insulation, and just good overall design.”
Read more »
The Netherlands building at 4300 Chestnut | Google Street View
As we told you in late October, Post Brothers is betting big on the area in and around University City. While their plans will initially start with a massive renovation project at the Garden Court Plaza, an apartment house at 47th and Pine, the scope of their overall $250 million investment is now starting to be revealed.
Melissa Romero of Curbed Philly reports that Matthew Pestronk, president and co-founder of Post Brothers, unveiled their new West Philly portfolio at a meeting in front of the Spruce Hill Community Association this week. It contains no fewer than seven aging (and beautiful) buildings spread out all over the area, and Romero says that the developer wanted talk with residents in attendance and ease their concerns: “Everything here is historic. We are not tearing down any buildings.”
While a statement like that deserves pause, especially in light of the recent news about the three buildings on Sansom Street that Southern Land Company seeks to demolish, remember that it was Post Brothers who did the seemingly unthinkable and redeveloped the dilapidated Goldtex Building into a glistening apartment complex. They’re also in the thick of bringing Presidential City, a multi-building complex, back to life.
“We’ve never demolished any historic buildings, or any buildings. Period,” echoed Mike Pestronk, Matthew’s brother, in an interview with Property. The developers quietly assembled the West Philly properties from four different owners over the past two months. Pestronk said they’re presently working on two more potential acquisitions, “but it’s not a definite they will happen.”
Here’s the list of their new buildings in West Philly:
Read more »
Garden Court Plaza
Post Brothers is starting to execute their plans to get in on some of the action around University City. The company announced they’ve acquired the Garden Court Plaza, a gorgeous 1920s-era apartment building at 47th and Pine Street (map), with plans to undertake a massive renovation project that largely caters to the area’s built-in population of post-graduates.
According to a press release about the acquisition, Post Brothers has “earmarked” $250 million to invest in projects that look to keep recent grads and a growing workforce in and around University City (47th and Pine is really Walnut Hill). “Our principal goal is to harness the energy of this exciting neighborhood to create re-imagined, high-quality apartments that are reflective of the neighborhood’s vibrant, upwardly-mobile population,” said Post’s CEO Michael Pestronk.
The plan at Garden Court Plaza calls for 146 apartment units, and will look to take the historic structure to the next level by bringing a new management team on site. Oh, and they will also be adding an amenity package on par with the flashy new high-rises popping up on Market and Chestnut streets.
Read more »