The Index hits 107 — and somebody just bought a whole block of Frankford Ave

THE INDEX: 107

Up six from last week, and the highest reading since March. The composite is being dragged upward by deed volume — recordings ran 14% above the trailing 12-week baseline — with permits close behind.

The big one

3300 Richmond St traded for $24.5M across six parcels. The buyer, Riverwards Development Co LLC, was registered in Harrisburg nine days before settlement — which is either impressive logistics or a very confident lawyer. The grantor side is a family partnership that has held the corner since the Rendell administration.

What we know from the paper trail:

• 6 parcels, one deed, one recording fee. Efficient.
• The same officers show up on a zoning permit filed at 2848 Kensington Ave in April.
• No construction permits on the Richmond St parcels yet. Watch this space.

Permits

L&I issued 50 building permits in our tracking set this week. The one to know: a 24-unit multi-family with below-grade parking at 1040 Spring Garden St — the third new-construction filing on that block this year.

Licenses

41 new business licenses, including a sidewalk cafe on East Passyunk (summer is coming) and — our favorite line item this week — an amusement license on Ridge Ave. We called. It's a pinball bar.

The number to argue about at dinner

Median residential transfer price, last 90 days: $415,000. Your rowhome is not underpriced. Your rowhome is the market.

Every figure above is checkable against the public record. That's the whole point.