Updated Oct 29, 2024
Alliance HSP Acquires Industrial Property In Philadelphia For $3.6M
3440 Bartram Ave, Philadelphia, PA, 1...
$3,600,000
$88/SF
Building Size
40,900 SF
Asset Type
Industrial
Closing
Nov 20, 2023
About this deal
AI
The industrial building located at 3440 Bartram Ave in Philadelphia, PA, spans 40,900 square feet. Built in 1980, the property sits in proximity to Interstate 95 and Philadelphia International Airport. The seller, the Philadelphia Housing Authority, represented by Michael Kane and Les Haggett of CBRE, along with Vincent Jolly of CVA Commercial Group, sold the asset to Alliance HSP for $3.6 million.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $3,600,000.00
- Address: 3440 Bartram Ave, Philadelphia, PA
- Market: Philadelphia
- Seller's Rep: Les Haggett (CBRE), Michael Bushkanets (Douglas Elliman)
- Buyer: Alliance HSP
- SF: 40,900
Alliance HSP, the buyer in this transaction, acquired the industrial property from the Philadelphia Housing Authority. Les Haggett of CBRE and Michael Bushkanets of Douglas Elliman acted as the seller's representatives, facilitating the sale. The transaction underscores the building's history, having been owned and occupied by the Philadelphia Housing Authority since 1990.
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
4.41%
Cash-on-Cash
-1.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93