DOWNINGTOWN, PA—Locally-based E. Kahn Development Corp. has acquired nearly 50 acres of land near the Downingtown Country Club here from the Archdiocese of Philadelphia.
Kahn purchased the parcel in partnership with Adam Loew and the Estate of Jack Loew for $3.8 million, according to the Philadelphia Business Journal.
“This is ground we had been trying to buy for a long time and we're not exactly sure what we are going to do with it yet,” says E. Kahn founder Eli Kahn. “We're going to take our time and figure out what to do with it.”
The diocese will continue to operate the John Vianney Center on approximately 15 acres of the property.
The firm also acquired 144 Lancaster Ave. in Devon, PA from Beatrice Goldfine and Carole S. Ben-Maimon for $1.8 million. The property currently features a Santander Bank branch. See story in the Philadelphia Business Journal.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
