Ben Meshel & Jeff Meshel Purchase Medical Office At 235 Chelten Avenue In Philadelphia For $2.615M
235 Chelten Avenue
$2,615,000
$171/SF
Building Size
15,289 SF
Asset Type
Office
Closing
Jan 15, 2025
AI
The property asset involved in this transaction is a medical office located at 235 Chelten Avenue in the Philadelphia market. It was sold for $2,615,000, featuring a total square footage of 15,289 and a price per square foot of $171.
Summary of transaction details:
- Property Type: Medical Office
- Transaction Amount: $2,615,000
- Address: 235 Chelten Avenue
- Market: Philadelphia
- Square Footage: 15,289
- Price per Square Foot: $171
- Buyer: Ben Meshel & Jeff Meshel
- Seller: Preet Sabharwal & Joe Ricciuti - OBC Wissahickon
- Broker: Jonathan Peranich - Peranich Huffman Net Lease Group
The deal was facilitated by Jonathan Peranich representing the broker group involved in the transaction. The buyers, Ben Meshel and Jeff Meshel, acquired the property from sellers Preet Sabharwal and Joe Ricciuti, who are associated with OBC Wissahickon.
Philadelphia Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.07%
Cash-on-Cash
-1.73%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93