(To read more on the multifamily market, click here.)
PHILADELPHIA-After winning a five-year legal struggle with theowner of neighboring land and gaining approval for a57-story residential condo tower at 1441 Chestnut St.,Ardmore-based Mariner Commercial Properties has put the land andplans out to market. Timothy Mahoney, head of Mariner, and localphilanthropist Brook Lenfest, Mahoney's partner in the project,have enlisted CB Richard Ellis to market the package.
Mahoney tells GlobeSt.com, "A sale is one of three options we'reputting out there--that or a JV or developing it ourselves. We'vebeen working on this for seven years, and, once we got approvals,the phone started ringing. I was surprised at what other developersthought it was worth."
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