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Philly CRE Is In Contraction Mode, And Deal-Makers Are Poised To Take Advantage
22nd September, 2023
For all the talk of whether the economy is heading for a soft landing or a harsher recession, bad times are already here for commercial real estate in Philadelphia.

“You’re getting a call from someone who controls an asset that has no liquidity, and it’s a potential conversion or a piece of land,” Post Brothers co-founder Matthew Pestronk said. “Throw out the lowest number that they won’t be insulted by, say you need this much time to execute, and you’re getting answers of, ‘Huh, let us think about that.’ It’s a painful period, but opportunities are starting to emerge.”

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