4C — January 11 - 24, 2019 — Pennsylvania — M id A tlantic
Real Estate Journal
www.marejournal.com
P ennsylvania Five-story Francisville property features connectivity and historic character Gebroe-Hammer’s Phila. Multi-Family Brokerage Team arranges sale garnering a $206,818 per-unit
HILADELPHIA, PA —With the 2018 multi- family investment year now closed, Gebroe-Hammer Associates recently arranged the sale of 22 units at 909 Co- rinthian Ave., in the Francis- ville neighborhood of Philadel- phia. Sales associate Joseph Gehler along with senior vice president Eli Rosen repre- sented the seller and procured the buyer in the trade, which garnered a $206,818 per unit sale price. The turn-of-the-century ele- vator building is strategically located at the corner of Corin- P
five-story property features a mix of one- and two-bedroom layouts, on-site parking and laundry facilities. Neighbor- hood amenities include an array of outdoor leisure oppor- tunities at Fairmount Park. Nearby academic landmarks encompass Girard College and Temple University. The mass-transit-dependent population is served by SEP- TA’s Broad Street Subway sta- tions at Fairmount and Girard as well as trolley route 15 at Girard Ave. and bus routes 2, 33 and 61. “Similar to so many of the
cities in the Northeast, Phila- delphia’s outer neighborhoods offer proximity and affordabil- ity to a thriving city center, which in this case is Center City,” added Rosen. “In turn, multi-family is benefitting from a rippling effect in terms of sound property-value funda- mentals, steady asking-rent appreciation and the estab- lishment of popular of lifestyle service providers and centers that meet the requirements of today’s young and established millennials, academics and even empty nesters.” In the past six months, the Gebroe-Hammer Phila- delphia Metro team has ar- ranged multi-family invest- ment sales encompassing over 775 apartment units sold for more than $126.18 mil- lion. The assets were located in Philadelphia city proper as well as area suburbs. The Gebroe-Hammer Great- er Philadelphia team repre- sents clients with investment interests in their urban and suburban submarkets of spe- cialization as well as those that extend throughout the Pennsylvania/New Jersey/ New York State geographic area and the greater North- east. Collaboratively, the team has effectively expanded the firm’s client base from private individual owners to now in- clude REITs, private equity firms and institutional invest- ment entities. Gebroe-Hammer is one of the leading multi-family in- vestment sales brokerage firms in the Pennsylvania/ New Jersey/New York State tri-state region. Campbell reps. seller in the sale of a 33,000 s/f building HARRISBURG, PA — Sandton Fund II Holdings has sold the building at 110 N 2nd Street to Second and Locust Investors, LLC. The 33,000 s/f building tenants include TD Ameritrade, Inc., Nelson & Associates Interior Design and Space Planning, Inc., and Bollywood Bar and Grille. The Campbell, Gasper, and Kostelac team at Camp- bell Commercial Real Es- tate, Inc. represented the sell- er and Jason Grace, CCIM, SIOR, Sr. VP of Landmark Commercial Realty, Inc./ TCN represented the buyer.
Fairmount Park. “This entire 28-block district is undergoing sweeping revitalization and is literally on the frontlines of gentrification,” said Gehler, who has been a member of the firm’s Greater Philadelphia brokerage team for two years. “It has tremendous appeal among the young-professional renter base, which accounts for 75% of the overall popula- tion and is attracted to the neighborhood’s direct connec- tion to Center City via Ridge Avenue.” The extremely well main- tained, distinct-in-character
909 Corinthian Ave.
thian Ave. and Cambridge St., within the city’s trendy Art Museum District alongside
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