Ryan Mulligan

The rare 153-foot oceanfront offering on the Jersey Shore is less about the homes — and more about the new build it could become.

Rents for one-bedrooms range from $3,350 to $3,455 per month, well above Wayne's average of $2,216.

"Having had nothing new in 50 years, literally 50 years, was seen as a potential opportunity to help start to reimagine what our campus could be," Penn State Abington Chancellor Gary Liguori said.

The 9,000-square-foot property, designed by prominent architect Horace Trumbauer, was built in 1902 for a Philadelphia-area businessman.

The top-selling residential real estate team in Greater Philadelphia last year generated more than $500 million in sales, ranking No. 7 nationally, according to new data.

The combined firm will keep its headquarters in Malvern, where it plans to double its headcount and potentially expand its footprint, said founder Domenic Colasante, a South Philadelphia native.

The 4-year-old Center City firm will use the $200.2 million in proceeds to pay down debt and acquire more property.

The gift is among the largest ever made to a university in the Philadelphia region.

A wave of new multifamily construction continues to push north along Philadelphia's central spine.

In a note on Friday, Larry Jameson said his objective of restoring stability to the Ivy League university amid turmoil when he took over in 2023 was "accomplished."