“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 […]
Philadelphia developer Post Brothers bought the older 2100 M St. NW building for a potential residential conversion earlier this year.
While developments like Post Brothers’ $500 million, 1,100-apartment Piazza expansion are nearing completion, dozens of others are kicking off or in the works.
At just under 700 units, Post Brothers’ Piazza Alta is the largest residential development in the United States employing prefabricated light-gauge steel for its walls. The project’s size, and its use of new technology, has earned it a 2023 CoStar Impact Award for multifamily development in Philadelphia, as judged by real estate professionals familiar with the market.
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