Updated Sep 9, 2024
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
Units
73
Asset Type
MultiFamily
Closing
Jun 15, 2022
About this deal
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.
On the Map
$22,800,000
MultiFamily
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Players
Philadelphia MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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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