Updated Nov 2, 2026
Christopher Cruz Of Standard Communities Acquires Multifamily Property In Philadelphia For $29.3M
3801 Conshohocken Avenue
$29,300,000
Units
186
Asset Type
MultiFamily
Closing
Oct 28, 2026
About this deal
AI
The Helston is a 186-unit multifamily apartment community located at 3801 Conshohocken Avenue in Philadelphia, PA. The property was sold for $29,300,000, equating to a price per unit of $157,527. The asset represents Standard Communities' entry into the Philadelphia multifamily market.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $29,300,000
- Buyer: Christopher Cruz - Standard Communities
- Seller: Scully Company
- Units: 186
- PPU: $157,527
Standard Communities plans to invest nearly $4 million in renovations to the property aimed at preserving affordability. The company has an additional $150 million allocated for affordable and workforce housing investments across the Philadelphia region.
On the Map
$29,300,000
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
0.54%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93