Updated Oct 29, 2024
Penn Property Partners Acquires Hotel In Philadelphia For $6.6M
225 South 8th Street
$6,600,000
$440/SF
Building Size
15,000 SF
Asset Type
Hotel
Closing
Dec 16, 2022
About this deal
AI
The sale of a hotel property located at 225 S 8th Street in Philadelphia has been completed. The property, spanning 15,000 square feet, was sold for a total price of $6,600,000, resulting in a price per square foot of $440. The transaction involved 17 keys, with a price per key of $388,235.
Summary of transaction details
- Property Type: Hotel
- Sale Price: $6,600,000
- Address: 225 S 8th Street, Philadelphia
- Market: Philadelphia
Penn Property Partners, represented by Bo Hu & Harvey Schmidt, acted as the buyer in this transaction. The seller of the property was Michael DiPaolo & Gebe Lefevre.
Players
Philadelphia Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.40%
Cash-on-Cash
-0.69%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93