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In 2023, the mall had a reported net operating income of $10.3M, the lowest it has ever been under Simon's ownership. Additionally, the property was recently appraised by the City of Philadelphia, and its value is only $101 million, a major decrease from its 2007 assessment of $370 million at the time of the Mills Corporation portfolio acquisition.
In Philadelphia Park Amusement Co. v. United States, 126 F. Supp. 184 (Ct. Cl. 1954), the United States Court of Claims ruled that the cost basis of property received in a taxable exchange is the fair market value of the property received. [1]
The properties are distributed across all of Philadelphia's 12 planning districts. East/West Oak Lane, Olney, Upper North and Lower North are included as North Philadelphia. Kensington, Near Northeast and Far Northeast are part of Northeast Philadelphia. Roxborough/Manayunk and Germantown/Chestnut Hill are a part of Northwest Philadelphia.
Home ownership, a major strength of the neighborhood, has remained steady with a rate of 80%, which is much higher than the city as a whole. The median residential property value was in excess of $155,000 (2004 data) and an analysis of sales in 2009-2010 indicates that homes were selling in the range of $160,000 to $210,000.
According to the Philadelphia Historical Commission, sites eligible for listing are those that possess any of the following: [2] Has significant character, interest or value as part of the development, heritage or cultural characteristics of the city, commonwealth or nation, or is associated with the life of a person significant in the past.
Liberty Place is a skyscraper complex in Philadelphia, Pennsylvania, United States.The complex is composed of a 61-story, 945-foot (288 m) skyscraper called One Liberty Place, a 58-story, 848-foot (258 m) skyscraper called Two Liberty Place, a two-story shopping mall called the Shops at Liberty Place, and the 14-story Westin Philadelphia Hotel.