Around the Block: 9/2/2022

September 6, 2022 BY JEFF CITY BLOCK

The history of Labor Day, our new and current listings, and Philly happenings. If you’d like to discuss real estate or anything in this newsletter please send me an email: [email protected]. This edition of Around the Block was originally published on Friday, 9/2/22.

9/2/2022

Relevant Commentary, all information Philly (real estate and otherwise), Open Houses, Listings, Happenings, and More — by Jeff “City” Block

The History of Labor Day

Most Americans look forward to a relaxing Labor Day weekend before things get crazy again with the end of summer, kids back in school, or whatever they have going on. Backyard BBQ, poolside, down the shore, parades, last-minute school supplies, just chilling out. This is a classic American holiday and most of us who can, take the day off.

So, I was curious as to what the history of Labor Day was. But before discussing that, I want to thank CBT client Mark Stehle for bringing his feel-good, family Rocky-themed video to my attention and for granting me permission to highlight it in last week’s Around the Block newsletter. Multiple readers who viewed the short video let me know how much they liked it.

Now back to that brief history of Labor Day. . . it has a dark side.

Late 19th century. Many Americans worked 12-hour days, seven days a week for low pay. Some children worked long hours of labor. Horrid conditions, especially for the poor and immigrants. There were few regulations. These conditions along with increased industrialization (away from agriculture) led to a rise in unions to organize the workers. This, in turn, led to the organization of strikes, rallies, and marches.

“Many of these events turned violent during this period, including the infamous Haymarket Riot of 1886, in which several Chicago policemen and workers were killed. Others gave rise to longstanding traditions: On September 5, 1882, 10,000 workers took unpaid time off to march from City Hall to Union Square in New York City, holding the first Labor Day parade in U.S. history.” History.com, Labor Day 2022

“‘The windows and roofs and even the lamp posts and awning frames were occupied by persons anxious to get a good view of the first parade in New York of workingmen of all trades united in one organization,’ reported the New York Tribune of that first Labor Day celebration.” History.com, How a Deadly Railroad Strike Led to the Labor Day Holiday

The number of parades and rallies increased and some states started to recognize them by giving workers the day off, but the federal government did not. Then in May 1894, Pullman railway workers walked out on the job (read about why they walked out here). The American Railway Union workers followed suit and railroad traffic was halted from Chicago to the west coast. The railroads enlisted the federal government to shut the strike down, and they procured an injunction to do just that.

“The following day, President Cleveland dispatched federal troops to the city to enforce the injunction. Illinois’ pro-labor governor, John Peter Altgeld, who had already called out state militia troops to prevent violence, was outraged, calling the government’s actions unconstitutional. With the arrival of federal troops, the Pullman strike turned bloody, with some rioters destroying hundreds of railroad cars in South Chicago on July 6, and National Guardsmen firing into a mob on July 7, killing as many as 30 people and wounding many others.”

During this strike, Congress was already considering making Labor Day a federal holiday. Ironically, President Cleveland signed this bill just several days before sending in the troops.

While I always knew that Labor Day was connected to organized labor and workers’ movements, I never knew the history. And I thought history.com was a good place to start.

I hope you had a nice summer. Please enjoy this weekend and let’s get ready for fall.

Warm regards,

Jeff

Spotlight Property

5038 Spruce Street

Huge, 12-year old, four-unit building in excellent condition. Located at the intersection of the highly desirable Garden Court and Walnut Hill neighborhoods of University City, this turn-key property offers four 1,500’ residences, each with central air; in-unit washers and dryers; modern, newer kitchen and baths with solid finishes; recessed lighting; excellent space and storage; bright natural light; and really nice outdoor space.

These sought after units are each the size of a comfortable home, yet offering single floor living. So easy to rent. The 1st floor offers 3 bedrooms, 2 full baths, and a very large rear yard. The 2nd floor offers 3 bedrooms, 2 full baths, and a rear deck. The 3rd and 4th floors each offer 2 full bedrooms, 1.5 baths, huge living spaces, and rear decks. Super convenient location with a 93 WalkScore and tons of SEPTA options to Center City, Penn, Drexel, HUP, 30th Street, etc.

This building currently brings in $71,000+/year with very low expenses. While the list price reflects these numbers, the building is significantly under-rented with three leases expiring in March 2023 and one is currently month-to-month. Just ideal, as new owner is set up to seamlessly bring rents up to our projected rents of $2,000+ per unit (for first two floors)and $1,800+ per unit (for upper two floors) or $91,000+/year.

Additional bonus potential: Other quads on the block have successfully applied for variance for 5th unit in lower level. This building has lower level just waiting to be finished. Potentially add another $1,200-$1,500/month to your rent roll. All utilities and mechanicals are separated (except for cold water). A superb investment opportunity in a red-hot neighborhood.

View full listing here

CBT August Closings

1629 North Street Spring Garden 3 Bed \| 3 Bath $864,500	2135 Saint Albans Street Graduate Neighborhood 3 Bed \| 2.5 Bath $700,000
237-41 N Bread Street #3 Old City 3 Bed \| 2 Bath $671,500	100 N 22nd Street #111 Logan Square 3 Bed \| 2.5 Bath $662,500
600 Commodore Court #2642 Graduate Neighborhood 2 Bed \| 2 Bath $660,000	26 University Mews University City 2 Bed \| 1.5 Bath $595,000

Here is a list of the 9 other properties the City Block Team sold in August:

*Represented Buyer and Seller

Philly Fun This Week

Festivals, Cultural Events, and More

This Wednesday, the roving beer garden, Parks on Tap moved to a brand new location. For over two years Parks on Tap has been stationed at Fairmount Water Works, but starting this fall, the beer garden will set up shop in five different parks throughout the city. The first new location is Fishtown’s Penn Treaty Park where guests can enjoy beautiful views of the Benjamin Franklin Bridge and Delaware River while enjoying seasonal cocktails, draft beers from Mainstay Independent Brewing, and a large food menu.

Photograph & content courtesy of uwishunu.

Featured Listings

4601 Springfield Avenue COMING SOON University City 6 Bed \| 2.5 Bath $499,000	7111 Germantown Avenue Mount Airy New Construction $340,000 – $1,200,000
349 S 47th Street #A310 COMING SOON University City 2 Bed \| 2 Bath $325,000	5038 Spruce Street University City 4 Units $890,000
1734 Addison Street Rittenhouse Square 3 Bed \| 2 Bath $695,000	706 S Bancroft Street Graduate Neighborhood 3 Bed \| 2.5 Bath $635,000
742 Lombard Street Society Hill 3 Bed \| 2 Bath $725,000	4614 Paschall Avenue University City 4 Bed \| 4.5 Bath $650,000
4928 Pine Street University City Duplex $489,000	4627 Paschall Avenue University City 3 Bed \| 1.5 Bath $250,000
403 S 42nd Street University City 6 Units $1,200,000	1324 Locust Street #1517 Avenue of the Arts South Studio \| 1 Bath $105,000
1410-12 S 48th Street University City 2 Bed \| 1 Bath $235,000	4115 Salem Street Frankford – Philadelphia 3 Bed \| 1 Bath $85,000

Experienced real estate agent?

Would you consider joining one of the most respected real estate teams in Philadelphia?

The City Block Team is looking for an experienced agent who wants to provide Expert Real Estate Representation.

CBT is committed to helping you build your business and offers excellent coaching and mentoring; solid systems & admin support; leads (quality over quantity); superb team camaraderie; and outstanding team name recognition and regard.

Please contact [email protected] to discuss. All inquiries are confidential. Thank you.

As always, please know that I’m humbled by and appreciative of your introductions and referrals. If you have a friend, colleague, or family member that is in need of Expert Real Estate Representation, please have them contact me.

Be assured, I will do my best to exceed their expectations! Thanks for taking the time to read this issue of Around the Block.

Some imagery in this e-newsletter was sourced via UWISHUNU, cherrystreetpier.com, and Canva.

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