Updated Apr 11, 2025
Moore College Of Art Acquires Multifamily Asset At 1831 Chestnut Street For $11.5M
1831 Chestnut Street
$11,500,000
$327/SF
Building Size
35,125 SF
Asset Type
MultiFamily
Closing
Mar 6, 2025
About this deal
AI
The transaction involved a multifamily asset located at 1831 Chestnut Street in the Philadelphia market. The property was sold for $11,500,000, covering a total area of 35,125 square feet, which results in a price per square foot of $327.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $11,500,000
- Address: 1831 Chestnut Street
- Market: Philadelphia
- Square Footage: 35,125
- Price Per Square Foot: $327
- Buyer: Moore College of Art
- Seller: Method Co.
- Brokers: Alan Krawitz, Kenneth Wellar & Corey Lonberger - Global Real Estate Advisors (GREA)
This deal was facilitated by the brokers Alan Krawitz, Kenneth Wellar, and Corey Lonberger, who represented both parties through Global Real Estate Advisors (GREA). Their involvement was crucial in bringing the buyer, Moore College of Art, and the seller, Method Co., together in this transaction.
On the Map
$11,500,000
$327/SF
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
1.38%
Cash-on-Cash
-0.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93