RRA Sells West Philly Development Site Approved For 153 Apartments
PHILADELPHIA, PA–(11/30/17) – Rittenhouse Realty Advisors is pleased to announce the sale of 780 S. 52nd Street, a development site located in the Cedar Park/ University City neighborhood of Philadelphia. The property includes a 115,835+/- square foot building (a former storage facility) on a 1.21 acre parcel.
The property is well located for tenant access to world-class schools and medical facilities, including UPenn and Drexel University, as well as Penn Medicine and CHOP. It is also just a block from Baltimore Avenue, which is lined with bars, restaurants, and coffee shops, and has a trolley route to Center City.
Ken Wellar, Managing Partner of RRA, stated: “Apple Lofts sat vacant for over ten years, so it is very exciting to see the building finally getting developed. Adding 153 units will have a great impact on the density of this area.”
Mark Duszak, Director of RRA, added: “The transformation of this building represents the strength of University City’s expansion into surrounding neighborhoods.”