Updated over 9 years ago on . Most recent reply
10 Unit Development Project in Philadelphia
Closed on our side of a 10 unit development project in Philadelphia today. We owned 1436 Poplar Street and connected with 1434 to build 10 units together. Our side of our building containing 5 units was sold to an real estate investor from New York City for over $1.2 million. It is interesting to see more and more NYC investors coming to Philly and I am not surprised comparing our cap rates to the rates in NYC. Pictures of the development are below.