Hudson Cos. Acquires Multifamily Property In Philadelphia For $13M
SOLD
$13,000,000
Pennsylvania
See Similar DealsMultiFamily45,000 SF
Sold 06/17/2020
SOLD
Hudson Cos. Acquires Multifamily Property In Philadelphia For $13M
526 Brown Street, Philadelphia, PA, USA
See Similar DealsMultiFamily45,000 SF
Sold 06/17/2020
Summary
PENNSYLVANIA
Asset Type:MultiFamily
Price Per Square Foot:$288
Total Square Footage:45,000 SF
Transaction Type:Sale
The multifamily property located at 526 Brown St in Philadelphia, PA was recently sold for a total price of $13,000,000. The transaction took place on 06/17/2021 and involved a total of 35 units, resulting in an average price per unit (PPU) of $371,429. Hudson Cos. acted as the buyer, while the seller was Trinity Realty Cos. The sale of this property was facilitated by Samantha Kupersmith and Spencer Yablon from CBRE.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $13,000,000
- Units: 35
- PPU: $371,429
- Buyer: Hudson Cos.
- Seller: Trinity Realty Cos.
- Brokers: Samantha Kupersmith & Spencer Yablon - CBRE
- Date: 06/17/2021
- Address: 526 Brown St, Philadelphia, PA
Spencer Yablon and Samantha Kupersmith from CBRE played integral roles as brokers in this transaction. They represented the buyer, Hudson Cos., and worked alongside the seller, Trinity Realty Cos., to successfully complete the sale of this multifamily property.
Players
BUYER
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$693,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$46,186.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$61,626.63
Annual Debt Service$739,519.59
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