Updated Aug 24, 2026
Morvay Holdings Acquires Industrial Property At 3353-3359 Richmond Street From FMC Living
3353 Richmond Street
Building Size
52,500 SF
Asset Type
Industrial
Closing
Aug 12, 2026
About this deal
AI
This industrial property encompasses 3.652 acres located at 3353-3359 Richmond Street in Philadelphia, PA. The transaction involved Morvay Holdings as the buyer and FMC Living as the seller.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not disclosed
- Address: 3353-3359 Richmond Street
- Market: Philadelphia, PA
- Asset Size: 3.652 Acres
- Buyer: Morvay Holdings
- Seller: FMC Living
- Broker Representatives: David Warren, Volkan Halilov & Dan Shapiro - KSR
The property was brokered off-market by David Warren, Volkan Halilov, and Dan Shapiro from KSR. They are open to inquiries regarding broker opinion of values (BOV’s) or off-market opportunities nationwide, and can be contacted at their respective emails.
Players
Philadelphia Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93