PHILADELPHIA-Post Brothers has sold the 92-unit Copley Manor apartment complex here in the West Mount Airy section of the city for approximately $6.3 million.
The property was sold by the locally-based real estate company to an unnamed New York City-based buyer who is making his first investment in the city, according to the Philadelphia Business Journal. The sale calculated out to $68,000 a unit.
Mark Thomson, Zachary Pierce and Steven Rutman of Marcus & Millichap arranged the transaction.
Post Brothers bought Copley Manor in 2007 for $2.9 million and invested $1.75 million in upgrades. See story in the Philadelphia Business Journal.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
