Updated Oct 29, 2024
Astra Foods Acquires Retail Property In Philadelphia For $4.6M
108 South 18th Street Philadelphia, Pennsylvania 19103, USA
$4,600,000
Building Size
—
Asset Type
Retail
Closing
Jul 1, 2023
About this deal
AI
Astra Foods, a meat manufacturer, has purchased the building housing Cleavers, a popular cheesesteak shop in Philadelphia, for $4.6 million. The building is located at 108 South 18th Street, near Rittenhouse Square. The transaction took place on July 1, 2023.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $4,600,000
- Address: 108 South 18th Street
- Market: Philadelphia
Astra Foods, represented by Demos Vasiliou & Spiros Poulimenos, acted as the buyer in this transaction. The seller was 108 S. 18th Street Acquisition LLC. Cleavers, the popular cheesesteak shop operating in the building, is owned by Astra Foods and the owners of Zesto Pizza & Grill.
Players
Philadelphi Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.45%
Cash-on-Cash
-0.99%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93