PHILADELPHIA—One of Center City's newer apartment buildings is on the market for sale and the owner is reportedly seeking a significant profit if a deal is to be reached.
HFF is marketing 2116 Chestnut St. and could be seeking as much as $160 million for the 34-story tower that was completed in 2013, according to the Philadelphia Business Journal. The property cost approximately $100 million to build.
The property, which was developed by The John Buck Co. of Chicago and INDURE Fund (the IBEW-NECA Diversified Underwritten Real Estate Fund) features 321 apartments and is 94% occupied.
The property also features more than 9,000 square feet of retail space. See story in the Philadelphia Business Journal.
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