14A — June 2024 — Owners, Developers & Managers — M id A tlantic Real Estate Journal
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O wners , D evelopers & M anagers
Landmark 57-unit apartment building sells for $6 Million Hudson Atlantic’s Zweibel orchestrates sale of Garrett House Apartments in Drexel Hill, PA
D REXEL HILL, PA — Garrett House Apart- ments, a landmark 57-unit apartment building nestled in the heart of Drexel Hill, has recently been sold after forty years under the original owners. The property has been sold for $6 million at a 5.75% cap rate. The sale was orchestrated by Adam Zwei- bel , founder, and managing partner of Hudson Atlantic , a leading real estate brokerage firm specializing in multi- family properties. Constructed in 1960, Gar- rett House Apartments offers
LEO A DALY names Bothwell director of business dev. in Washington DC WASHINGTON, DC — LEO A DALY announced Pam Bothwell as director of business development in the are thrilled to have had the op- portunity to represent Garrett House Apartments in this land- mark sale,” said Zweibel. “This property holds a special place in the history of Drexel Hill.” The sale of Garrett House Apartments marks a signifi - cant milestone for the Drexel Hill real estate market, reflect - ing the enduring appeal of well- maintained, historic properties in sought-after locations. As the community continues to evolve, Garrett House Apart- ments remains a cornerstone of residential living. Hudson Atlantic is a lead- ing real estate brokerage firm specializing in the acquisition and disposition of multi-family properties. With a focus on personalized service and ex- pert market analysis, Hudson Atlantic has established itself as a trusted advisor to inves- tors seeking to navigate the dynamic landscape of the real estate market. MAREJ
residents a blend of historic charm and modern comfort. The property’s 57 units have provided generations of ten- ants with a welcoming and vibrant place to call home. Zweibel, leveraging his ex- pertise and industry knowl- edge, facilitated the successful sale of Garrett House Apart- ments, achieving a remarkable price of over $105,000 per unit. His dedication to securing the best possible outcome for both buyers and sellers un- derscores Hudson Atlantic’s commitment to excellence in real estate transactions. “We
Garrett House Apartments
Washington DC design studio. “Pam un- derstands and connects with the people and the complex processes in- volved with
Pam Bothwell
building projects in the capital city,” celebrated Rauzia Ally , managing principal of the Washington DC studio. “As a local business owner who has also held board positions for CREW, IIDA and IFMA , Pam is known for her dedicat- ed service, valuable knowledge and integrity.” Bothwell is honored to join the integrated team of designers, architects and en- gineers. “I have been deeply engaged in the community and have heard the resound- ing respect for LEO A DALY’s 60-years of service and work here.” A collector of local art, Bothwell also crosses paths with many who appreciate design from several different perspectives. MAREJ
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