Real Estate Journal — Owners, Developers & Managers — October 27 - November 9, 2017 — 7B
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M id A tlantic
O wners , D evelopers & M anagers
83 units/144 beds located in Powelton Village section Gebroe-Hammer Associates arranges $14m University City multi-family portfolio sale
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and Drexel Park, the proper- ties were a major investment attraction because they offered a unique opportunity to ac- quire a collection of historical- ly well-occupied multi-family assets within a one-city-block radius,” said Rosen, who noted the latest REIS quarterly data indicates asking rents for the submarket are up 3 percent. “University City’s Powelton Village is one of the most desir- able districts in the city.” In addition to being extreme- ly accessible via SEPTA’s Mar- ket-Frankford Line and its No. 10 trolley, Powelton Village’s
vibrant Lancaster Ave. com- mercial corridor is walkable, drivable and bicycle friendly. A bridge, which crosses the Schuylkill River, leads directly to the Fairmount/Art Museum District. “The city’s colleges, univer- sities, employment centers, shopping, restaurants, bars and cultural venues are all within a few blocks’ radius of this highly sought-after dis- trict,” said Rosen. “As Phila- delphia’s overall rents con- tinue to inch upward – for total gains of 14.2% in the past year – investors are vigorously
competing for all on- and off- market multi-family proper- ties.” The Powelton Village portfo- lio sale comes on the heels of another recent University City trade arranged by Gebroe- Hammer involving 59 units. Rosen, along with Manag- ing Director Joseph Brecher, exclusively represented the seller and procured the buyer in the $11.37 million sale. Gebroe-Hammer is the lead- ing multi-family investment sales brokerage firm in the Greater Philadelphia Metro as well as New Jersey and
NewYork State. Since expand- ing its brokerage services to the Philadelphia/South Jer- sey region, the firm’s market specialists have sold an un- precedented 20,000+ garden, mid-rise and high-rise units representing an extensive client network, from private, locally based individuals to national institutional invest- ment groups. Gebroe-Hammer also markets mixed-use and free-standing office and retail properties. Widely recognized for its consistent sales perfor- mance, the firm is a 14-time CoStar Power Broker. n
niversity City / Philadelphia, PA — A distinctive,
livable urban n e i g h b o r - hood of wide porches, tree- lined streets, restaurants and shops, Un i ve r s i t y City is home to the latest
Eli Rosen
Gebroe-Hammer Associ- ates Philadelphia multi-fam- ily portfolio sale encompassing a total of 83 units and 20 prop- erties sold for $14 million. Se- nior vice president Eli Rosen , the firm’s Philadelphia market specialist, represented the seller, West Village UCA, and procured the buyer, a private investor, in the transaction. The properties are all locat- ed in Powelton Village, in the heart of the neighborhood’s world-renowned education, medicine and technology hub. Situated on the 3200 block of Powelton Ave., 11 of the properties (3201-3027) are on the odd side of the street while two are even-numbered (3214 and 3220). The 3214-3218 Pearl St., properties feature three two-unit townhomes with patios and garages as well as an additional loft in two of the units. Across the street at 311-313 N. 33rd St., is a 24-unit building with an adjacent parking lot. In total, the portfolio is comprised of a mix of spacious studio and one-, two-, three- and four- bedroom layouts for a total of 144 beds. “Just across the street from Drexel University’s campus Benchmark Const. promotes Gilburg to VP of Higher Education Brownstown, PA — Benchmark Construction Company has promoted Andy Gilburg to VP of its Higher Education market team. In this leadership role, Gilburg will be responsible for providing oversight to the performance of Benchmark’s Higher Education market, ensuring the success of proj- ects within the market and performing business develop- ment for future growth. Gilburg attended Franklin & Marshall College and has a Bachelor of Arts degree in business management. n
P o s k a n z e r S k o t t A r c h i t e c t s 550 North Maple Avenue, Ridgewood, NJ 07450 201.445.2322 www.poskanzerskott.com
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