58C — March 29 - April 11, 2019 — The Best of 2018 — M id A tlantic
Real Estate Journal
The MOST SIGNIFICANT/UNIQUE MULTIFAMILY SALE of 2018
Colliers International-PA Quaker Building Philadelphia, PA
Greysteel Homes of Towne Plaza Joppa, MD
Rittenhouse Realty Advisors NorthPark Apartments Bethlehem, PA
Lot Size: 117,612± SF Building Size: 54,792± SF Brokers: Luke DeLuca, Ken Wellar, Corey Lonberger and Mark Duszak This property sold with the highest price per unit in the Le- high Valley. Completed in July 2017, NorthParkApartments consists of two three-story luxury apartment buildings. It has an excellent unit mix with 46% one-bedroom units ranging in size from 825 to 892 s/f, and 54% two-bedroom/two-bath units at 1,225 s/f. Property amenities include tenant lounge, fitness studio, dog park and dog spa. In addition to these amenities, the property is adjacent to Northside Athletic Complex and Bethlehem Township Municipal Park and Community Center which provides tenants with wonderful walking/bike paths, an outdoor picnic area, playground, vol- leyball court, horseshoe pit, multiple athletic fields, indoor swimming pools.
Greysteel arranged the sale of the 417-unit multifamily com- munity to Baltimore-based Blue Ocean. Greysteel President & CEO, Ari Firoozabadi and Director, Ari Azarbarzin represented the seller, Weiss Brothers LLC, in the Property’s first change of ownership since being con- structed in 1964. The great residential Property is located in Harford County, Maryland. The low-density, townhome and garden-style community, sits on approximately 18 acres and consists of one-, two- and three-bedroom units with desirable floorplans and community amenities for residents. Located in the Joppa submarket, the property is well-located, easily accessible to employers, with strong walkability scores.
Michael Barmash of Colliers International, along with Josh Nadel of MPN Realty, arranged the sale of the massive Quaker warehouse at 900-58 N. 9th St. for $17.25M to Post Brothers, paving the way for the real estate company to move forward with a roughly $100 million redevelopment of the structure. The developer has approvals to convert the 10-story, 380,000 s/f building into a mix of 350 apartments and 60,000 s/f of office space.
At Colliers International, we recognize that success is achieved by rising above our clients’ expectations with our unmatched knowledge of the local markets we serve and a culture of service excellence. We are pleased to congratulate all of our Mid Atlantic Real Estate Journal Best of 2018 Winners! colliers.com/philadelphia +1 215 925 4600 RISE ABOVE Enterprising Solutions COLLIERS INTERNATIONAL
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