{"id":4910,"date":"2022-01-12T23:38:50","date_gmt":"2022-01-13T05:38:50","guid":{"rendered":"https:\/\/1reason.com\/re\/rittenhouse-realty-advisors-sells-41-units-in-queen-village-society-hill-area-of-philadelphia-for-7425000\/4910\/"},"modified":"2022-01-13T17:38:50","modified_gmt":"2022-01-13T23:38:50","slug":"rittenhouse-realty-advisors-sells-41-units-in-queen-village-society-hill-area-of-philadelphia-for-7425000","status":"publish","type":"post","link":"https:\/\/1reason.com\/re\/rittenhouse-realty-advisors-sells-41-units-in-queen-village-society-hill-area-of-philadelphia-for-7425000\/4910\/","title":{"rendered":"Rittenhouse Realty Advisors Sells 41 Units in Queen Village\/ Society Hill Area of Philadelphia For $7,425,000"},"content":{"rendered":"
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QUEEN VILLAGE\/ SOCIETY HILL Portfolio<\/h5>\n

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PHILADELPHIA, Dec. 16, 2021 (GLOBE NEWSWIRE) — Rittenhouse Realty Advisors, a commercial real estate sales brokerage firm, is pleased to announce the sale of a multi-family portfolio containing 34 apartments and 7 commercial units in the Queen Village\/Society Hill area of Philadelphia. The addresses sold include: 721-725, 734, 736 & 746 South 4th Street, 307 & 327 Pine Street, and 1303 South 6th Street. The properties are well located for public transit access and access to I-95, as well as tenant enjoyment of the shops, restaurants, cafes, and nightlife of South Street, Passyunk Square, and Headhouse Square.<\/p>\n

Ken Wellar, Managing Partner at RRA, stated: “This portfolio sits in one of the best locations in Philadelphia. The properties were owned and managed by a family office for more than 40 years. The new owner sees the value-add potential across the portfolio, given the quality of the properties and the prime location.\u201c<\/p>\n

Alan Krawitz, a Senior Associate at RRA who worked on the transactions, added: \u201cThe location, proximity, and rental upside in these assets drew significant attention. We fielded multiple bids above our asking price, reinforcing the narrative that well located value-add opportunities are top priority for capital in today\u2019s market.”<\/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>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\/28de9804-268c-4f0f-a64a-af2622f3391e<\/a><\/p>\n

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QUEEN VILLAGE\/ SOCIETY HILL <\/p>\n
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