Agent PHL Brokers Sale of 12-unit Loft Apartment Building in Philadelphia for $3,900,000
PHILADELPHIA, Oct. 21, 2022 /PRNewswire/ -- On behalf of Ownership, Agent PHL powered by Compass Commercial has formally announced the sale and settlement of 2045 Trenton Avenue (aka Nylon Lofts) in Philadelphia, Pennsylvania. This adaptive reuse, boutique apartment building was delivered fully leased as a turnkey multifamily investment, located in Philly's hottest residential neighborhood — Fishtown. The transaction was brokered by Ryan McManus, Principal of Agent PHL.
McManus said: "This unique Property commanded multiple offers during construction, throughout the lease-up, and post-stabilization; and, as a result of our best-in-class formal listing process, we're pleased to once again deliver first-class results for our valued, repeat clients by achieving an exceptional price per unit at sale."
Located in the Fishtown submarket on a quiet double-wide cobblestone thoroughfare, Nylon Lofts retained its original character and charm through a painstaking preservation process. Tenants enjoy exposed brick, wooden beams, exposed ductwork, oversized windows, and soaring ceilings in the building — coupled with today's modern conveniences such as quartz countertops, stainless steel appliances, washer/dryer in-unit, and more.
"The Building is a perfect blend of old world charm, authentic originality and spirit, and contemporary appeal; it's representative of Fishtown's irreplaceable desirability and setting and that was evident in how competitively the offering was pursued by investors," said McManus.
Most offerors represented out-of-town (non-local) investors, which is extremely commonplace in the Fishtown submarket — prized for its city-leading cool factor, restaurants, amenities, access to public transit, safe streets, walkability, pocket parks, and its well-maintained housing stock coupled with progressive new development. For instance, just last week, Agent PHL brokered the sale of 1713-21 North Front Street which is just .6M SW of 2045 Trenton that will make way for a stellar 55-unit new development addition to the Fishtown neighborhood, amongst many other notables nearby, particularly situated on/around the Frankford Avenue and Front Street commercial corridors.
Visit our website at www.AgentPHL.com.
Agent PHL was founded in 2016 by Ryan McManus as a full-service hybrid real estate sales firm focused primarily on land development, multifamily investment and residential new construction listings. The firm has enough talent, tools and resources to compete with blue chip national real estate firms yet remains boutique and nimble enough to service the most distinct, exclusive listings with a neighborhood-based approach to sales. Agent PHL has the local expertise, reputation and connections to be considered the go-to sales team in Philadelphia. Backed by the power of Compass Commercial and its national network of top-producing agents and technology, Agent PHL services an interoffice pipeline of referrals and out-of-region enquiries on behalf of brokers, investors and developers.
SOURCE Agent PHL
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