Investor behind 35-property sale in West Philly
Add Axios as your preferred source to
see more of our stories on Google.
Illustration: Allie Carl/Axios
The investor behind 35 properties for sale in a pocket of West Philly is Thomas Domalski, according to city and state records reviewed by Axios.
Why it matters: The group of homes primarily in Cobbs Creek is raising concerns that the sale could lead to higher rents and displacement.
Driving the news: Domalski is a former equities trader at Susquehanna International Group, a privately held financial firm based in Bala Cynwyd.
- Of note: Susquehanna is owned by billionaire Jeff Yass, a GOP-mega donor, advocate for school vouchers and Pennsylvania's richest person.
Catch up quick: The $7 million listing went viral recently after a TikTok creator highlighted the sale advertised on Zillow.
- Real estate agency Compass' memo on the sale boasts fully occupied single-family homes in "red hot" Cobbs Creek, with a smattering of properties in nearby neighborhoods.
- TPD Real Estate LLC owns the properties.
Of note: Domalski is not named in the Compass memo and real estate agents on the listing declined to identify the owner by name.
- Efforts to contact Domalski and TPD were unsuccessful.
Yes, but: The registered office for TPD's state business license matches the address for a Philadelphia penthouse in a lux condo tower near Rittenhouse Square, where city property records list Domalski as the owner.
The intrigue: Domalski's penthouse in the Lanesborough appears to be the one-time home of former Phillies star Pat Burrell, per the Philadelphia Business Journal.
- Domalski's condo has a market value of more than $3.3 million, per city records, but was listed for nearly $4.3 million last year.
Between the lines: The 35 West Philly properties were purchased within the last decade, ranging in price from approximately $7,500 to $106,000, per city property records.
- The listing has been on the market for nearly three months.
What they're saying: Zillow spokesperson Will Lemke tells Axios the bulk listing was not typical and the company is looking into it.
- "We are working with the multiple listing service [which provides listings to Zillow] in the region to determine why this particular listing is being displayed in this format," Lemke said.