North Broad Living Sells Student Housing In Philadelphia For $8M With Buyer's Rep Adrian Sam & Seller's Rep Spencer Yablon - CBRE
1516-18 North 15th Street, Philadelphia, PA, USA
$8,000,000
$1,006/SF
Building Size
7,950 SF
Asset Type
Other
Closing
Sep 30, 2021
AI
Located at 1516-18 North 15th Street in Philadelphia, this student housing property was recently sold for $8,000,000. The transaction was facilitated by Adrian Sam and Spencer Yablon of CBRE on behalf of the seller, North Broad Living. The property consists of 36 units, with a price per unit of $222,222.
Summary of transaction details
- Property Type: Student Housing
- Transaction Amount: $8,000,000
- Address: 1516-18 North 15th Street, Philadelphia
- Market: Philadelphia
- Seller: North Broad Living
- Brokers: Adrian Sam & Spencer Yablon - CBRE
- Units: 36
- Price per Unit (PPU): $222,222
The sale of this student housing property was successfully closed on September 30, 2021. Adrian Sam and Spencer Yablon, representing CBRE, played a key role in facilitating the transaction between the buyer and the seller. This deal highlights the strong demand for student housing in the Philadelphia market.
Players
Philadelphia Other Market Snapshot
Boundary boundary · Other · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.98%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93