Rittenhouse Realty Advisors, The LVL, Philadelphia, PA
Size: 76,698± s/f
The LVL 4125 is a 141 unit building that was developed by Alterra Property Group and is one of the largest modular housing developments ever built in the Mid Atlantic. Construction was completed in 2019, and the property has ten years left on the tax abatement. The units have luxury finishes with stainless steel appliances, in-unit washers and dryers, a roof deck, a gym, a club room, quite rooms, and dog run.
The sale of this property was negotiated at the onset of COVID-19. University City has grown exponentially in recent years into a science and technology start-up hub, making it increasingly attractive to investors.
A state-of-the-art commercial lab and office building, known as 3.0 University Place, is being constructed nearby, which was a huge selling point in marketing The LVL.
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