A recently constructed apartment complex in West
Philadelphia has sold for $4.25 million.
The Residences at 3862 at 3862 Lancaster Ave. was built
in 2014 by How Properties of Conshohocken, Pa. The developer is involved in
multifamily development throughout the city.
The Residences at 3862 in University City.
The 19,000-square-foot Lancaster Avenue property has 22
apartments that were all occupied at the time of the sale. It also has a
commercial space leased to Edible Arrangements.
The property was sold by an entity affiliated with the
developer. Longford Lancaster Avenue, a limited partnership, bought the
property. Ken Wellar and Mark Duszak of Rittenhouse Realty Advisors arranged
the sale.
Source: Philadelphia
Business Journal
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