Updated Dec 27, 2024
Felicity Street Investments Acquires Multifamily Asset From V2 Properties For $3.6M In Philadelphia
2209 North Broad Street
$3,600,000
Units
21
Asset Type
MultiFamily
Closing
Dec 23, 2024
About this deal
AI
The property asset involved in this transaction is a 21-unit apartment building known as Lofts at Henry Hall, located at 2209 North Broad Street in Philadelphia, PA. The asset was sold for a total of $3,600,000, which results in a price per unit of $171,429.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,600,000
- Units: 21
- Buyer: Felicity Street Investments
- Seller: V2 Properties
- Broker: Vince Peruto - Marcus & Millichap
This transaction was facilitated by Vince Peruto, who represents V2 Properties as their broker. Vince Peruto played a critical role in procuring the buyer, Felicity Street Investments, for this multifamily asset located in a significant market area.
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
4.41%
Cash-on-Cash
-1.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93