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235 Chelten Avenue

Ben Meshel & Jeff Meshel Purchase Medical Office At 235 Chelten Avenue In Philadelphia For $2.615M
SOLDOffice

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.

Players

Jonathan Peranich

Peranich Huffman Net Lease Group

Broker

$22M

vol

4 deals

Broker

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