Development Site In Philadelphia, PA Sells For $2.3M With Compass Broker
2507 Almond Street
$2,300,000
$60/SF
Building Size
37,890 SF
Asset Type
Development Site
Closing
Jan 17, 2024
AI
A development site located at 2507 Almond Street in Philadelphia, PA has been sold for $2,300,000. The property spans a total area of 37,890 square feet with a price per square foot of $61. It consists of 155 units, valuing each unit at approximately $14,839.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $2,300,000
- Square Footage: 37,890 SF
- Price Per Square Foot: $61
- Address: 2507 Almond Street, Philadelphia, PA
- Market: Philadelphia, PA
- Units: 155
- Price Per Unit: $14,839
- Broker: Ryan McManus - Compass
The deal was facilitated by Ryan McManus, a representative from Compass. This transaction showcases the involvement of key individuals and the brokerage firm in successfully closing the sale of the development site at 2507 Almond Street.
Players
Philadelphia 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
6.90%
Cash-on-Cash
-1.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93