(Read more on the multifamily market.)
PHILADELPHIA-Two disparate multifamily properties in separate,unrelated transactions have been sold. Audubon Center in NortheastPhiladelphia has traded for $22 million or $59,299 per unit while64-unit Mt. Airy Court near Elkins Park has commanded slightly morethan $4.4 million or just north of $69,000 per unit.
The larger Audubon Center at 6242 Roosevelt Blvd. is aneight-building complex containing 371 units. The sale was anoff-market transaction. The Livingston, NJ-based Gebroe-HammerAssociates team of assistant vice president Eli Rosen, executivevice president Joel Schwartz and senior vice president JosephBrecher represented the seller and also procured the buyer ofrecord, Audubon Properties.
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