20B — February 23 - March 15, 2018 — Owners, Developers & Managers — M id A tlantic

Real Estate Journal


O wners , D evelopers & M anagers

“University City continues to be one of the strongest markets in Philadelphia” RittenhouseRealtyAdvisors sells 25 units in Spruce Hill Neighborhood of Philadelphia for $4.15million P

HILADELPHIA, PA — Rittenhouse Re- alty Advisors (RRA) announced the sale of 4317 Spruce St., in the Spruce Hill neighborhood of Philadelphia. The property consists of 25 apartments featuring hard- wood floors, gas cooking, and shared laundry access in the basement. It is within walk- ing distance to the University of Pennsylvania, Drexel Uni- versity, and the University of the Sciences and also is con- venient to 30th St. Station for access to SEPTA and Amtrak. Ken Wellar , managing

4317 Spruce St.

Ken Wellar

Corey Lonberger

Mark Duszak

partner at RRA, said: "Uni- versity City continues to be one of the strongest markets in Philadelphia and Spruce

Hill, specifically, continues to see strong rent growth year after year.” Spruce Hill, located in West

Philadelphia, is known for its tree-lined streets, well-pre- served Victorian architecture and its eclectic restaurants and cafes along Baltimore Ave.

Crystal PA adds new comprehensive state-of-the-art . . . Corey Lonberger , manag- ing partner at RRA, noted: "4317 Spruce was an excellent value-add opportunity in one of Philadelphia's most highly sought after neighborhoods." Mark Duszak , director at RRA, added: “Although both local and out of state inves- tors had strong interest in this University City location, ultimately it was purchased by a local owner/operator.” n

New triple IGU equipment

continued from page 18B matic calibration, the system dramatically improves argon filling efficiency and quality. Its OptiClose Plug easily and quickly creates a solid mechani- cal seal, for the argon fill port, a vast improvement over screw inserts. Last, but not least, a “between-the-glass” grid fabri- cation line by Dailey Automa- tion Systems automatically optimizes, cuts, and notches flat and contour grids by batch without operators. Installation of all the glass line components was accom- plished using equipment sup- plier and in-house technicians. Crystal Pennsylvania has hired nine additional employees for the new glass line and related operations. Crystal is planning addi- tional equipment acquisition for the PA factory for 2018, including vinyl window assem- bly machinery enabling most of Crystal's vinyl windows and doors to be made in PA as well as New York. 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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