Updated Oct 28, 2024
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
About this deal
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.
On the Map
$8,000,000
$1,006/SF
Other
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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