Rittenhouse Realty Advisors Sells Philadelphia Student Housing Portfolio For $20M | 516-26 South 42nd Street, 3433-39 Lancaster Avenue, 40 Baring, 4100-02 Ludlow Street, 4224-26 Chester Avenue & 607-09 South 42nd Street | Other | Sale

Summary

Sale

PENNSYLVANIA

Other

32,620 sqft

The student housing property located at 516-26 South 42nd Street, 3433-39 Lancaster Avenue, 40 Baring, 4100-02 Ludlow Street, 4224-26 Chester Avenue, and 607-09 South 42nd Street in Philadelphia has been sold for a total of $20,000,000. The property consists of 88 units, with a price per unit (PPU) of $227,273. It offers a total of 199 beds, resulting in a price per bed (PPB) of $100,503.

Summary of transaction details

Property Type: Student Housing
Transaction Amount: $20,000,000
Units: 88
Price Per Unit (PPU): $227,273
Beds: 199
Price Per Bed (PPB): $100,503

The sale of this student housing property was facilitated by Ken Wellar & Corey Lonberger from Rittenhouse Realty Advisors. They represented the seller in this transaction, adding their expertise to the deal.

Note: More details about this transaction can be found on the following Instagram post: Instagram Link.

Details

Deal Summary

SOLD

IMAGE: Ken Wellar & Corey Lonberger DATE: 10/13/2021 ADDRESS: 516-26 South 42nd Street, 3433-39 Lancaster Avenue, 40 Baring, 4100-02 Ludlow Street, 4224-26 Chester Avenue & 607-09 South 42nd Street MARKET: Philadelphia ASSET TYPE: Student Housing SELLER: Ken Wellar & Corey Lonberger - Rittenhouse Realty Advisors SALE PRICE: $20,000,000 UNITS: 88 ~ PPU: $227,273 BEDS: 199 ~ PPB: $100,503

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Address516-26 South 42nd Street, 3433-39 Lancaster Avenue, 40 Baring, 4100-02 Ludlow Street, 4224-26 Chester Avenue & 607-09 South 42nd Street

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