Rittenhouse Realty Advisors Sells State of the Art Apartment Building in Northern Liberties Neighborhood of Philadelphia

PHILADELPHIA, July 10, 2018 (GLOBE NEWSWIRE) — Rittenhouse Realty Advisors is pleased to announce the sale of 938-940 New Market Street in the Northern Liberties neighborhood of Philadelphia.  The property is a 16-unit state-of-the-art apartment building with energy efficient features and a green roof. It was developed by Stull Investments, a company that focuses on green and eco-friendly building in urban areas.  Tenants enjoy numerous “smart” features such as Nest thermostats, digitally controlled lights and locks and a video intercom system.  

938 New Market Street Philadelphia, PA
938 New Market Street Philadelphia, PA

The building was acquired by New York based JOSS Realty Partners on behalf of a family office investor.  Chris Egan, a Senior Associate at RRA, stated: “This is a beautifully constructed building with all the bells and whistles on a great block in Northern Liberties. The buyers were keen on the technology features and energy efficiency designed into the construction of the building.”

The property is very well located and is just a block from the amenities of 2nd Street, which is home to a grocery store, several healthcare providers, fitness studios, and numerous popular bars, restaurants and cafes.  It is also within walking distance to SEPTA’s Girard Station, which has a direct subway line to Center City.

Seth Douglas, an Associate at RRA, added: “Northern Liberties continues to attract high-quality tenants with well thought-out, modern buildings.  938 New Market fits this mold, in addition to having proximity to all of the restaurants and shops 2nd Street has to offer.  These factors contributed to a record-breaking price per unit sales price for the Northern Liberties submarket.”

For more information on current rates or to view our available listings visit

www.RittenhouseRealty.com

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. 

www.RittenhouseRealty.com

Press Contact: Corey Lonberger and Ken Wellar
Managing Partners
215-454-2852

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/0a7c0d42-a2b3-4854-bd75-87fb6d4fc716

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