NAI Mertz arranges $28 million sale of historic nine-building multifamily
PHILADELPHIA, PA — NAI Mertz announced the sale of an historic nine-building multifamily portfolio in Center City Philadelphia. The NAI Mertz team of John Adderly, executive VP-managing director, Fred Meyer, SIOR, executive VP-director of Brokerage & Corporate Services, and Roy Kardon, SIOR, VP, represented the ownership, The Stolker Family, in this complex real estate transaction. The sale price was $28 million. Consisting of 100 apartment units, one commercial unit, and four dedicated parking spaces, these properties are located at 1329 Lombard St.; 415-417 S. 10th St.; 1634-36-38 Lombard St.; and 1825, 1912 and 2011 Spruce St. The prime locations of these buildings around and within the Rittenhouse Square, Washington Square West and Avenue of the Arts submarkets, as well as their stunning and atheistically pleasing features, brought more than 75 property tours and received more than 20 offers on the portfolio.