{"id":4040,"date":"2021-09-30T15:18:10","date_gmt":"2021-09-30T20:18:10","guid":{"rendered":"https:\/\/1reason.com\/re\/rittenhouse-realty-advisors-sells-six-walk-up-apartment-buildings-totaling-40-units-in-center-city-philadelphia-totaling-8-5-million\/4040\/"},"modified":"2021-10-01T10:18:10","modified_gmt":"2021-10-01T15:18:10","slug":"rittenhouse-realty-advisors-sells-six-walk-up-apartment-buildings-totaling-40-units-in-center-city-philadelphia-totaling-8-5-million","status":"publish","type":"post","link":"https:\/\/1reason.com\/re\/rittenhouse-realty-advisors-sells-six-walk-up-apartment-buildings-totaling-40-units-in-center-city-philadelphia-totaling-8-5-million\/4040\/","title":{"rendered":"Rittenhouse Realty Advisors Sells Six Walk-Up Apartment Buildings Totaling 40 Units in Center City, Philadelphia Totaling $8.5 Million"},"content":{"rendered":"
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Recent Center City Brownstone Apartment Sales by RRA<\/h5>\n

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PHILADELPHIA, Sept. 08, 2021 (GLOBE NEWSWIRE) — Rittenhouse Realty Advisors, a commercial real estate sales brokerage firm, is pleased to announce the sale of six walk-up apartment buildings in the Washington Square, Rittenhouse Square, and Queen Village neighborhoods of Center City, Philadelphia. The sales included the following properties: 11 units at 623 & 625 Pine Street, 9 units at 2015 Walnut Street, 5 units at 614 South 3rd Street, 6 units at 735 Spruce Street, & 9 units at 1127 Spruce Street.<\/p>\n

Each of the properties offered value-add opportunities. All well-located for tenant enjoyment of Philadelphia’s popular restaurants, cafes, and shops as well as within close proximity to public transportation, these properties generated a great deal of interest from buyers in the market.<\/p>\n

Ken Wellar, Managing Partner at RRA, stated: \u201cWe are seeing more out-of-state capital look at core Center City real estate as part of their long-term, generational investment plans. These buyers are looking for high-quality buildings in great locations.\u201d<\/p>\n

Alan Krawitz, an Associate at RRA who worked on the transactions, added: \u201cBrownstone assets in irreplaceable locations play a key role in the rental housing stock in Philadelphia. They sit at rent levels below boutique new-construction, Class-A, fully amenitized, high-rise assets, providing the renter value without sacrificing proximity to the action.\u201d<\/p>\n

For more information on current rates or to view our available listings visit www.RittenhouseRealty.com<\/u><\/a>.<\/p>\n

Based in Philadelphia, Pennsylvania, Rittenhouse Realty Advisors is a real estate advisory firm with an extensive focus in the brokerage of multi-family communities throughout the northeast region of the United States. Formed in February 2013 by a group of advisors with more than 30 years of commercial investment sales experience, our focus is on multi-family and mixed-use properties with significant residential components.<\/em><\/p>\n

www.RittenhouseRealty.com<\/a><\/u><\/p>\n

Press Contact: Corey Lonberger and Ken Wellar
Managing Partners
215-454-2852<\/p>\n

A photo accompanying this announcement is available at https:\/\/www.globenewswire.com\/NewsRoom\/AttachmentNg\/9fe13195-d331-43b2-af43-d280e77f5e7b<\/a><\/p>\n

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Recent Center City Brownstone Apartment Sales by RRA <\/p>\n
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