As the residential landscape of East Kensington changes, so too will the commercial landscape. Already, we're seeing new businesses open on Frankford Avenue in the neighborhood, like a comic shop and a tattoo place that have appeared in recent months on the 2500 block. On Front Street we're seeing positive changes as well, with new businesses filling long vacant spaces mostly in Fishtown but with some new spots appearing further north. Off a major corridor, at 2049 E. Hagert St., we could soon see something different as well.
Yes folks, it's Erica's Sports Bar, and it's available for sale. Again. The property was first listed for sale back in 2013, with an asking price of $450K. Over the next year, the price came down, settling in at $390K, but no buyers came forward. It came off the market, then came back at the end of last year at a higher asking price of $575K. Now the price is up/down to $550K. This includes the entire building, the liquor license (worth like $100K), and two upstairs apartments. Looking at the photos in the listing, whoever ends up buying this place will likely need to do a couple hundred thousand dollars worth of renovations, making the current asking price a bit of a challenge. Still, if and when someone does come forward to purchase the property, assuming they are looking to renovate and reopen an eating/drinking establishment, they'll have plenty of new neighbors to target.
On this block alone, three new homes and a duplex have appeared in the last year. Across the street, another home popped up around the same time. Skinny homes have abounded on surrounding blocks. So yeah, the price is probably a little high right now for this property, but it will eventually turn over, making for another switch in this changing neighborhood.