Matthews™ Lists Luxury Philadelphia Apartments for $13.84M

 Apartment Listing in Philadelphia

 

PHILADELPHIA —Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, listed The Aster, a new-build, Class A luxury apartment building located at 4550 Mitchell Street, Philadelphia, PA. Matthews™ Senior Associate Brandon Ribeiro is the exclusive listing agent for the property.

 

The Aster, listed at $13,840,000, features 39 units, including one commercial space, studios, 1, 2, and 3-bed apartments, communal amenities, and a furnished rooftop deck for outdoor enjoyment. The property, positioned in Philadelphia’s Roxborough neighborhood, is currently leasing and will be delivered stabilized with a 10-year tax abatement.

 

“In addition to this asset, also available to be packaged in the immediate vicinity are 6601 Ridge Avenue (20 units stabilized) and 4215 Manayunk Avenue (6 units stabilized with 4.97% assumable Freddie Mac debt) — providing optionality and a tremendous critical mass investment opportunity within the Roxborough submarket — an area surging with rental demand,” Ribeiro said.

 

The building is within walking distance of the Ridge Avenue commercial corridor, which boasts several restaurants and retailers.

 

“Coupled with our in-depth local knowledge of the submarket, the Matthews™ platform greatly enhances the likelihood of procuring offers within the client’s “strike” price by exposing the asset to a national audience of active principal investors seeking high-quality multifamily investment opportunities,” Ribeiro added.

 

For more information on this listing, please reach out to brandon.ribeiro@matthews.com.

 

About Matthews™

Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Based out of Nashville, TN, and strategically positioned with over 600 agents and support staff in 25+ offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.