Ryan McManus & Brandon Ribeiro Represent Buyer In $2.15M Philadelphia Development Site Sale

A development site located at 1523 Wallace Street in Philadelphia, PA was sold for $2,150,000. The asset spans 28,352 BSF and features 9,000 SF, with a price per BSF of $75 and a price per SF of $238. The site has been approved for the construction of a 27-unit apartment building.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $2,150,000
• Address: 1523 Wallace Street
• Market: Philadelphia, PA
• Building Square Feet: 28,352
• Price per Building Square Feet: $75
• Square Feet: 9,000
• Price per Square Feet: $238
• Sale also included adjacent duplex located @ 1528-30 North Street
• Brokered off-market, dual-agency
• Development site entitled for 27 apartments

The transaction involved brokers Ryan McManus and Brandon Ribeiro, who represent Agent PHL. The deal was facilitated after the buyer obtained zoning approvals necessary for the planned development.