Urban Equities Purchases Multifamily Asset From Redblock Realty For $9.72M In Philadelphia

The asset involved in this transaction is a multifamily property located at 4070 Haverford Avenue in the Philadelphia market. The sale price for this property was $9,720,000. It encompasses 43 units and has a total square footage of 26,327, resulting in a price per unit of $226,046 and a price per square foot of $369.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $9,720,000
• Units: 43
• Square Footage: 26,327
• Price Per Unit: $226,046
• Price Per Square Foot: $369
• Buyer: Urban Equities
• Seller: Ilya Rabovetsky - Redblock Realty
• Developer: Ilya Rabovetsky - Redblock Realty
• Brokers: Kenneth Wellar, Corey Lonberger & Alan Krawitz - Global Real Estate Advisors (GREA)

This transaction was facilitated by the brokers Kenneth Wellar, Corey Lonberger, and Alan Krawitz, who are associated with Global Real Estate Advisors (GREA). Ilya Rabovetsky of Redblock Realty played a dual role as both the seller and the developer of the property, indicating his involvement in the entire process.