Drexel Hill, PA — Garrett House Apartments, a landmark 57-unit apartment building nestled in the heart of Drexel Hill, has recently been sold after forty years under the original owners. The property has been sold for $6 million at a 5.75% cap rate. The sale was orchestrated by Adam Zweibel, founder, and managing partner of Hudson Atlantic, a leading real estate brokerage firm specializing in multi-family properties.
Constructed in 1960, Garrett House Apartments offers residents a blend of historic charm and modern comfort. The property’s 57 units have provided generations of tenants with a welcoming and vibrant place to call home.
Zweibel, leveraging his expertise and industry knowledge, facilitated the successful sale of Garrett House Apartments, achieving a remarkable price of over $105,000 per unit. His dedication to securing the best possible outcome for both buyers and sellers underscores Hudson Atlantic’s commitment to excellence in real estate transactions. “We are thrilled to have had the opportunity to represent Garrett House Apartments in this landmark sale,” said Zweibel. “This property holds a special place in the history of Drexel Hill.”
The sale of Garrett House Apartments marks a significant milestone for the Drexel Hill real estate market, reflecting the enduring appeal of well-maintained, historic properties in sought-after locations. As the community continues to evolve, Garrett House Apartments remains a cornerstone of residential living.
Hudson Atlantic is a leading real estate brokerage firm specializing in the acquisition and disposition of multi-family properties. With a focus on personalized service and expert market analysis, Hudson Atlantic has established itself as a trusted advisor to investors seeking to navigate the dynamic landscape of the real estate market.
Comments