Updated Oct 28, 2024
PP Factory LTS LLC, PP Frame LLC, And PP Button LLC Acquire Multifamily Portfolio In Philadelphia For $34.7M
1730 North 5th Street, Philadelphia, Pennsylvania 19122, United States
$34,700,000
$120/SF
Building Size
289,185 SF
Asset Type
MultiFamily
Closing
Dec 29, 2021
About this deal
AI
The sale of multiple properties in Philadelphia, PA has been finalized. The properties include 1700 North 5th Street, 1730 North 5th Street, 1720 North 5th Street, 1701 North 6th Street, and 3560 Sepviva Street. This multifamily asset transaction was completed on 12/29/2021.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $34,700,000
- Units: 168
- Price per Unit: $206,548
- Square Footage: 289,185
- Price per Square Foot: $120
The buyers in this transaction are PP Factory LTS LLC, PP Frame LLC, and PP Button LLC. They acquired the properties from the sellers, which are 1700-1702 North Fifth LP, 32 Lofts LP, and Corinthian Associates LP. The deal was facilitated by Ken Wellar, Corey Lonberger, and Mark Duszak from Rittenhouse Realty Advisors.
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
0.46%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93