Another Incredibly Successful Development Story!

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1323-41 N Howard Street is just another in our
many developer success stories!
We sold this to one of our builders, it was an off market lot
Never hit the MLS!!
The 21 homes are now being built && we have already pre-sold
13 of the 21 homes!!
howard
Be sure to keep in touch for off market lots, shells, multi’s and fixer uppers.
Jim Onesti & Mike McCann – BHHS Fox & Roach.
215.627.6005 Main or 215.440.2052 Direct
Best way to get in touch: jonesti@mccannteam.com
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Incredible New Development Opportunities!

2209-15 League Street. Graduate Hospital!! 3 continuous lots and a shell. $675k

22XX Greenwich, Point Breeze – Coming soon! – $45k

Francisville Lots: 833-835 N 15th Street + 837 N 15th Street + 1437 Parrish Street
(ZONED IRMX which allows multi-family with NO commercial requirements!!!)
833-835 N 15th St – $119,000.00  –  837 – $89,000.00  – 1437 Parrish – $99,000.00

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For more information or to make an offer today contact
Jim Onesti 215.440.2052 or jonesti@mccannteam.com
BHHS Fox & Roach, McCann Team 215.627.6005 Main 

4 Amazing Development Opportunities!!

Not yet on the MLS

1713 S. 9th Street. Passyunk Square. Huge 2 story corner home with GARAGE, deck, 4 bedrooms and two baths. Needs updating but in great condition! Asking $225k

1318 S Opal, Point Breeze, $79k. Two stories, needs complete renovation.

1320 S Cleveland, Point Breeze, $89k. Two stories, needs complete renovation.

14 lots in Northern Liberties, fully approved for town homes with garages and parking. $150k each!

Contact Jim Onesti for more info. 215.440.2052 or jonesti@mccannteam.com
BHHS Fox & Roach Realtors & The McCann Team. 215.627.6005

Great Info On The 10 Year Tax Abatement Discussion!

John Westrum CEO of Westrum Development, and Kevin Gillen, an economist affiliated with the University of Pennsylvania’s Fels Institute of Government, were wondering about something pertaining to Philadelphia’s 10-year tax abatement.

 What would the net fiscal impact be of a newly constructed residential development that was built under the abatement?

The abatement gives buyers of a new residential property a 10-year break on real estate taxes.

The policy has been considered a success. But critics say it siphons revenue away from the city and school district, benefits developers and caters to the rich.

To get an answer, Westrum and Gillen analyzed Westrum’s Brewerytown Square, a development of 144 market-rate townhouses at 31st and West Thompson streets.

Westrum wouldn’t have gone forward with the project without the abatement. It was a fringe area when he started the project and one of the biggest selling points was the tax break.

When Gillen and Westrum drilled down on Brewerytown Square, they concluded that for every $1 abated, the city took in $2 in tax revenue from other sources directly related to the project. It also found that 47 percent of its new owners came from out of the city.

“So, not only did the city get back the $1 that it forewent from the abatement, but it also received an additional $1 in revenue from other sources, due to the economic activity and new residents associated with Brewerytown Square’s development,” said a report on their analysis.

The debate over the abatement is expected to continue during the upcoming budget session and this report will likely play a role.

For full study found in the link below…
For more info on the citys tax abatement program contact me today!
Jim Onesti. 215.440.2052 or jonesti@mccannteam.com
Information courtesy of
Natalie KostelniReporter- Philadelphia Business Journal

Jim Onesti & The McCann Team Bring You ANOTHER Investor Success Story!

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Just last year we found our developer clients a phenomenal and rarely offered Northern Liberties buy! It consisted of a great piece of land located at 973-75 N 5th and 1004-12 N Orkney Streets.

Not only did we help them find and purchase the site but we also successfully guided them through the zoning and permit process. In addition to our vast development knowledge we also assisted in everything from designing to branding and marketing these homes.

2While in the process of building these seven brand new, astounding new construction homes, we were able to pre-sell six of them- months before completion!!! Our client paid just around $100k per lot and sold them for a whopping $520k to $620k each!

We love working with investors and developers and there is nothing that we don’t know about this business. This is just one of the many amazing success stories that we are able to tell!

If you would like more information about our marketing plan, our vast knowledge and experience or our proven marketing plan and track record contact me today!

3We always have lots and fixer uppers for sale in and around Center City and the surrounding areas. Many of our lots come with zoning permits and approvals.

We would love the opportunity to share your success story so contact me today!

Jim Onesti, The McCann Team Berkshire Hathaway HomeServices
215.440.2052 – jonesti@mccannteam.com

Help Keep the Philadelphia Ten Year Tax Abatement in Effect!!

The Greater Philadelphia Association of Realtors has been lobbying on your behalf to save the ten year abatement! Today at City Council’s first session back from summer recess, Councilman At Large, W. Wilson Goode, Jr. brought his bill#120651 up for final vote. However, because of the tireless efforts of GPAR leadership and volunteers in conjunction with our coalition partners such as the Building Industry Association, the Development Workshop, other concerned citizens , and your contributions to RPAC (the Realtor Political Action Committee), we have AGAIN  beaten back efforts to dismantle the Ten Year Tax Abatement on new and renovated construction.  

 A recap of Thursday’s events:

Councilman Goode, Jr. called for a vote on his dismantling of the Ten Year Abatement.  Our collective, hearty lobbying efforts caused Councilman Greenlee to move to “table” the bill. Councilman Bill Green gave a great speech on behalf of keeping the abatements as is. He articulately began naming a myriad of projects that have utilized the Ten Year Abatement to bring new residents into the City and retain residents who could have chosen to move out. Had it not been for these abatements would these projects have reached fruition?  The motion to table passed overwhelmingly.

This is a victory BUT our work is not yet finished. Councilman Goode Jr. in his final speech stated that he will call the bill up for a vote every week until it passes, and his “friends” from Fight for Philly, who filled chambers chanting for more funds for the schools, will be there as well. 

WE NEED TO KILL THIS BILL ONCE AND FOR ALL!!!!!

Indeed, GPAR is actively promoting a bill to extend the abatement in more challenged areas of the city where the current abatement has not yet spurred interest in development/renovations. Please visit the Ten Year Abatement website below and email, call, visit Council – Urge them VOTE NO on Bill 120651 

HELP keep the Philadelphia Ten Year Tax Abatement in effect – it is available to EVERYONE. It promotes new construction, renovations, jobs, and strongly aids in broadening Philadelphia’s tax base.  Visit phillytaxabatement.com

For more information contact Jim Onesti 215.440.2052 or jonesti@mccannteam.com