Press Releases
Marcus & Millichap Facilitates $3.6M Sale of 21-Unit Apartment Property in Philadelphia
December 05, 2024
PHILADELPHIA, Dec. 5, 2024 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Lofts at Henry Hall, a 21-unit apartment property located in Philadelphia, Pennsylvania. The property sold for $3.6 million, or $171,429 per unit.
"We were excited to see the high level of activity surrounding this deal and are glad we were able to cross the finish line," said Vince Peruto, associate. "Demand for multifamily assets in Philadelphia remains strong, especially in quality submarkets with strong tenant demographics."
Peruto, investment specialist in Marcus & Millichap’s Philadelphia office, had the exclusive listing to market the property on behalf of the seller, V2 Properties, and procured the buyer, Felicity Street Investments. Tim Stephenson is Marcus & Millichap’s broker of record in Pennsylvania.
Located at 2209 N. Broad St., Lofts at Henry Hall offers a mix of one-, two- and three-bedroom floor plans across 17,078 square feet. Built in 2023, the property also includes a 500-square-foot commercial space on the ground floor. The asset provides immediate access to Temple University, as well as nearby retail and transit.
"We were excited to see the high level of activity surrounding this deal and are glad we were able to cross the finish line," said Vince Peruto, associate. "Demand for multifamily assets in Philadelphia remains strong, especially in quality submarkets with strong tenant demographics."
Peruto, investment specialist in Marcus & Millichap’s Philadelphia office, had the exclusive listing to market the property on behalf of the seller, V2 Properties, and procured the buyer, Felicity Street Investments. Tim Stephenson is Marcus & Millichap’s broker of record in Pennsylvania.
Located at 2209 N. Broad St., Lofts at Henry Hall offers a mix of one-, two- and three-bedroom floor plans across 17,078 square feet. Built in 2023, the property also includes a 500-square-foot commercial space on the ground floor. The asset provides immediate access to Temple University, as well as nearby retail and transit.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.
