facebook
TradedTraded
    Home
    Search
    Closings
    Listings
    On Market
    Off Market
    Add a listing
    Vaults
    shh
    Rankings
    News
    Data
    Socials
    More


Messages

Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

Pennsylvania

/

Multifamily

/

Sale

/

1217 Spring Garden Street, ...

Rittenhouse Realty Advisors Represents Buyer In $22.8M Multifamily Sale On Spring Garden St, Philadelphia
SOLDMultiFamily

Rittenhouse Realty Advisors Represents Buyer In $22.8M Multifamily Sale On Spring Garden St, Philadelphia

1217 Spring Garden Street, Philadelphia, Pennsylvania 19123, United States

$22,800,000

Building Size

Asset Type

MultiFamily

Closing

Jun 15, 2022

AI

A multifamily property located at 1217 Spring Garden St in Philadelphia, PA has been sold for a total price of $22,800,000. The property consists of 73 units, making the per unit price equal to $312,329. The transaction took place on 06/16/2022.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $22,800,000
  • Units: 73
  • Price per Unit: $312,329

The sale of 1217 Spring Garden St was facilitated by Ken Wellar, Corey Lonberger, Mark Duszak, and Alan Krawitz from Rittenhouse Realty Advisors. They acted as brokers representing the parties involved in the deal.

Players

Kenneth Wellar

Global Real Estate Advisors (GREA)

Broker

$1.2B

vol

58 deals

Broker

Philadelphia MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.70%

Cash-on-Cash

-0.20%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93