34 —September 2025 — Owners, Developers & Managers — M id A tlantic Real Estate Journal
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O wners , D evelopers & M anagers Strategic asset management stabilizes distressed Philadelphia property SREA Property Management finalizes receivership with sale of The Bentley in Center City
HILADELPHIA, PA — SREA Property Management (SREA) has successfully concluded its court-appointed receivership of The Bentley, a 17-story, 63-unit residential building located at 257 S. 16th St. in Center City Philadelphia. The sale of the note in June 2025 resulted in significant value creation for stakeholders. Appointed by the Court to stabilize and position the dis- tressed property for recovery, SREA navigated a complex array of challenges, including halted construction, utility P
shutdowns, safety violations, and unauthorized trespassers. Through swift and strategic action, the team secured the site, resolved façade viola- tions, reduced operating ex- penses, and led a targeted marketing campaign that generated multiple offers. “This assignment is a prime example of our ability to stabi- lize severely distressed assets and create meaningful value for lenders, owners, and the surrounding community,” said Sean Myers , acquisitions and assets manager. “Our receiver - ship services are designed to
protect and enhance real estate assets during periods of uncer- tainty, and The Bentley’s out - come demonstrates the power of that approach.” SREA’s success at The Bent - ley follows the firm’s prior court-appointed receivership of Brith Sholom House at 3939 Conshohocken Ave.—a 360- unit senior housing property in disrepair and facing over 200 code violations. Within nine months, SREA and the lender restored critical services, im- proved living conditions, and executed a strategic short sale to the Philadelphia Housing Authority (PHA) . “These two properties dem - onstrate our expertise in man- aging distressed assets of all types—from high-rise residen- tial towers to large-scale afford- able housing complexes,” said Alan Jovinelly , managing di- rector of REO Services. MAREJ can use to offset W-2 earnings. And don’t overlook 1031 like- kind exchanges, which defer gains indefinitely by swapping properties, preserving capital for reinvestment. Looking ahead to 2026, these incentives position Northeast CRE as a strategic haven for tax optimization. High-income professionals can acquire in - come-producing assets to slash brackets, while developers leverage OZs for transforma - tive projects. However, success demands expert guidance— consult tax advisors to navigate rules like basis adjustments and holding periods. As the Northeast market rebounds, embracing these advantages isn’t just smart; it’s essential for building lasting wealth. Adam Zweibel, president of Hudson Atlantic Realty, is a seasoned CRE expert consistently ranks among the top performing commer- cial real estate investment brokers with a specialty in New Jersey multifam- ily sales. Over the last 13 years, Adam has closed over $2 billion in sales transac- tions and 10,000+ apartment units. MAREJ Disclaimer: This article is for infor- mational purposes only and does not constitute tax, legal, or accounting advice. The author is not a licensed tax attorney or accountant. Consult qualified professionals for personalized guidance. By Adam Zweibel, Hudson Atlantic Realty continued from page 9
257 S. 16th St. in Center City
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