The HOW Group Acquires 50-Unit Multifamily Building In Philadelphia For $9.9M

The transaction involves the sale of Yarn Factory Lofts, a multifamily asset located at 3715 Main Street in Philadelphia, PA. The property consists of 50 units and was sold for $9,900,000, resulting in a price per unit of $198,000. This former mill was converted into apartments in 2012 and presents a light value-add opportunity for the buyer.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $9,900,000
• Units: 50
• Price Per Unit: $198,000
• Buyer: The HOW Group
• Seller: Urban Conversions
• Brokers: Tyler Margraf, Samantha Kupersmith, Fran Coyne, Riley Raposa & Russell Mapes - JLL

This transaction was facilitated by JLL, which arranged both the sale and the acquisition financing. The brokers involved represent the buyer and seller in this multifamily property transaction.