Howard Lutnick Of Cantor Fitzgerald And Jordan Slone Of Harbor Group International Acquire Multifamily Asset In Philadelphia For $138M

The multifamily asset at 2116 Chestnut Street in Philadelphia is a 321-unit high-rise. It was acquired for a total of $138,000,000, resulting in a price per unit of $429,907. This property is situated in the Center City market, a prime location demonstrating strong investor interest due to ongoing urban development.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $138,000,000
• Units: 321
• Price Per Unit: $429,907
• Buyer: Howard Lutnick - Cantor Fitzgerald; Jordan Slone - Harbor Group International
• Seller: Andrew Glanzman - CBRE Investment Management
• Brokers: Carl Fiebig, Fran Coyne, Jose Cruz, Tyler Margraf & Samantha Kupersmith - JLL

This transaction highlights participation from key players in the real estate sector, with Howard Lutnick and Jordan Slone representing the buyers, and Andrew Glanzman representing the seller. The brokers from JLL facilitated the transaction, indicating strong professional engagement in the deal.