Global Real Estate Advisors Sells Multifamily Portfolio In Wynnewood And University City For $42M

The transaction involved three multifamily properties located at 18 East Lancaster Avenue, 1831 Chestnut Street, and 4070 Haverford Avenue in Wynnewood and University City, Philadelphia. The assets were sold for a total price of $42,000,000, encompassing 182 units at an average price per unit of $230,769.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $42,000,000
• Units: 182
• Price Per Unit: $230,769
• Sale Date: 04/23/2025
• Address: 18 East Lancaster Avenue, 1831 Chestnut Street & 4070 Haverford Avenue
• Market: Wynnewood, Philadelphia & University City, PA
• Brokers: Alan Krawitz, Corey Lonberger, Kenneth Wellar & Mark Allen - Global Real Estate Advisors (GREA)

Global Real Estate Advisors (GREA) successfully closed three major multifamily deals in the Philadelphia area, which include the 110-unit Palmer in Wynnewood, the 29-unit former ROOST Hotel in Rittenhouse Square, and the 43-unit Haverford Lofts in University City. The Palmer property drew 20 offers and traded at a sub-5% cap rate. Additionally, Moore College acquired the Rittenhouse asset for use as student housing.