Updated Oct 28, 2024
Sentinel Acquires Multifamily Properties In Society Hill & Rittenhouse, PA For $68.5M
400 Walnut Street, Philadelphia, Pennsylvania 19106, United States
$68,500,000
$404/SF
Building Size
169,515 SF
Asset Type
MultiFamily
Closing
Jul 21, 2022
About this deal
AI
The multifamily property located at 400 Walnut St. & 1930 Chestnut St. in Society Hill & Rittenhouse, PA has been sold in a recent transaction. The property consists of 213 units and spans a total of 169,515 square feet. The sale price for this transaction was $68,500,000, resulting in an average price per unit of $321,596 and a price per square foot of $404.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $68,500,000
- Units: 213
- Price per Unit: $321,596
- Square Feet: 169,515
- Price per Square Foot: $404
The buyer of the property was Sentinel, represented by Michael Gershman. The seller was MRP Realty and Barings. The sale was facilitated by JLL, with Carl Fiebig, Mark Thomson, Fran Coyne, and Tyler Margraf serving as the brokers involved in the transaction.
On the Map
$68,500,000
$404/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
0.23%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93