Curbed Philly's Melissa Romero reports that developers of the $40 million Southwark on Reed near the former Mt. Sinai Hospital—which is currently undergoing demolition—have already pre-sold the entire first two buildings, which contain 14 homes.

The project's developers—Concordia, D3 Developers, and Resmark Companies—are building out the 95 four-story townhomes as they are sold. The development is slated to reach completion in 2018, and the project's second phase of 11 homes are now for sale.

The first phase of Southwark on Reed homes first hit the market back in April, with some homes coming with a $619,900 price tag. In general, prices for the 2,300 to 2,900-square-foot homes start in the high $400,000s. Three furnished home models will be available for touring this September.

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