Newbold was formerly a part of the much large Point Breeze neighborhood. The neighborhood derived it’s new name from the former name of Hicks street (running between Wharton and McKean streets).
New neighborhoods and hotspots in Newbold include South Philly Taproom, Station Bar & Grill, Brew and Ultimo Coffee. The Newbold real estate market also benefits from clost proximity to Center City, and is only a few blocks from the Broad Street subway line.
In addition to the development of commercial real estate, dozens of Newbold homes for sale have been rehabbed, and there’s plenty of new construction. The largest project currently underway is the reNewbold Development. The development will feature 16 rowhomes, a public courtyard and will be LEED platinum certified. A huge plus in the increasingly eco-conscious world of new construction homes.
Newbold real estate remains relatively low compared to most other “hot neighborhoods” in Philadelphia, with a median listing price of $133,320. Much more affordable when compared to Passyunk Square right across Broad Street, which has a median listing price of $327,700. Although prices are low now, it is anticipated that Newbold homes for sale will increase in value in the next few years. The neighborhoods excellent location, convenience, plus the revitalization effort of neighbors and developers alike make it an excellent and worthwhile investment.
This is an edited version of an article, originally posted On March 22nd, 2012 By Mickey Pascarella: CLICK HERE for the full, original version.