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PHILADELPHIA-St. Ives Partners of New York City has acquired St.Ives Apartments, a 38-building, 516-unit garden-style multifamilycomplex, for in excess of $34 million. The price factors out toapproximately $65,892 per unit. The seller was locally basedInvestment Equities.

The complex, which is located at 3300 Woodhaven Rd., was builtbetween 1973 and 1974 and totally renovated in 1988. At the time ofthe sale it was 95% occupied. Joel Schwartz, EVP; Joseph Brecher,SVP, and Eli Rosen, sales representative of the Livingston,NJ-based Gebroe-Hammer Associates, represented the seller andprocured the buyer. Lawyer Sheldon Weisbaum, with offices here andin Ledgewood, NJ, represented the seller, and Richard Kelin of theWest Orange, NJ-based Feinstein, Raiss, Kelin & Booker,represented the buyer.