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2507 Almond Street

Development Site In Philadelphia, PA Sells For $2.3M With Compass Broker
SOLDDevelopment Site

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

Ryan McManus

Agent PHL

Broker

$66.4M

vol

13 deals

Broker

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