Updated Oct 25, 2024
Ari Weber, Yigal Niasoff & Menachem Schechter Acquire Development Site In Philadelphia For $15M
1708 Walnut Street
$15,000,000
Building Size
—
Asset Type
Development Site
Closing
Dec 9, 2022
About this deal
AI
The development site located at 1706, 1708, and 1710 Walnut Street in Philadelphia, PA has been sold in a closed transaction. The property consists of an assemblage of three separate parcels and offers significant potential for development.
Summary of transaction details
- Property Type: Development Site
- Sale Price: $15,000,000
- Building Square Footage: 250,000
- Price per Square Foot: $60
- Address: 1706, 1708 & 1710 Walnut Street, Philadelphia, PA
- Market: Philadelphia, PA
Ari Weber, Yigal Niasoff, and Menachem Schechter have purchased the property from Joan Kreistein. These buyers successfully completed the transaction, showcasing their interest and commitment to further developing the site.
If you would like more information about this transaction or have any deals to offer, you can reach out to Ari Weber from Brookliv.com. His email address is [email protected].
Imus Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.06%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93