PernaFrederick Represents Seller in Sale of Old City Parking Garage at 37-39 S. 2nd St

ASI Management, a Philadelphia real estate company run by Alex Schwartz, has purchased a garage in the Old City neighborhood of Philadelphia with the intention of not tearing it down to build something anew.

It’s a twist in what has been a regular feature in Old City, a neighborhood that has seen in recent years a constant churn of smaller buildings and surface parking lots transformed into new residential structures. Schwartz paid $4.6 million for 37-39 S. 2nd St., a three-story parking structure that has been owned by the same family for decades.

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