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U.S. Construction Acquires Development Site In Philadelphia For $5.75M

Property Image
SOLD
$5,750,000
Alan Krawitz
Kenneth (Ken) Wellar

Pennsylvania

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Development Site23,304 SF
Sold 08/23/2022
the dealplayerscompscontact
Property Image
SOLD

U.S. Construction Acquires Development Site In Philadelphia For $5.75M

1120 Frankford Avenue, Philadelphia, Pennsylvania 19125, United States

See Similar Deals
Development Site23,304 SF
Sold 08/23/2022
Alan Krawitz
Kenneth (Ken) Wellar
the dealplayerscompscontact
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Summary

PENNSYLVANIA
Asset Type:Development Site
Price Per Square Foot:$246
Total Square Footage:23,304 SF
Transaction Type:Sale

A development site located at 1120-36 & 1138 Frankford Avenue in Philadelphia, PA has been sold for $5,750,000. The property consists of 107 units, with an average price per unit of $53,738. The total square footage of the site is 23,304, resulting in a price per square foot of $247. Additionally, there is 15,000 square feet of commercial space.

Summary of transation details

  • Property Type: Development Site
  • Transaction Amount: $5,750,000
  • Units: 107
  • Price per Unit: $53,738
  • Total Square Footage: 23,304
  • Price per Square Foot: $247
  • Commercial Square Footage: 15,000

U.S. Construction has acquired the development site. The deal was facilitated by Ken Wellar and Alan Krawitz from Rittenhouse Realty Advisors.

Players

Kenneth (Ken) Wellar
Global Real Estate Advisors (GREA)
Kenneth Wellar
58 deals$1.2B volume
BROKER
Alan Krawitz
Global Real Estate Advisors (GREA)
Alan Krawitz
22 deals$250M volume
BROKER
UC
U.S. Construction
BUYER

Details

SOLD
IMAGE: Dustin Salzano (@DSalzano), John M. Farina, Ken Wellar & Alan Krawitz DATE: 08/23/2022 ADDRESS: 1120-36 & 1138 Frankford Avenue MARKET: Philadelphia, PA ASSET TYPE: Development Site BUYER: U.S. Construction (@USConstructionInc) BROKERS: Ken Wellar (@Ken_Wellar_CRE) & Alan Krawitz (@Grea_CRE) - Rittenhouse Realty Advisors (@Rittenhouse_Realty_Advisors) SALE PRICE: $5,750,000 UNITS: 107 ~ PPU: $53,738 SF: 23,304 ~ PPSF: $247 COMMERCIAL SF: 15,000

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