{"id":1004105399,"date":"2014-10-09T10:55:14","date_gmt":"2014-10-09T18:55:14","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=298065"},"modified":"2020-04-23T06:26:07","modified_gmt":"2020-04-23T14:26:07","slug":"apartment-building-on-sansom-street-changes-ownership-in-40-million-transaction","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/apartment-building-on-sansom-street-changes-ownership-in-40-million-transaction\/","title":{"rendered":"Apartment Building on Sansom Street Changes Ownership in $40 Million Transaction"},"content":{"rendered":"

By Veronica Grecu, Associate Editor<\/em><\/p>\n

\"The<\/a><\/p>\n

The Sansom – 1605 Sansom Street, Philadelphia<\/p>\n<\/div>\n

Roughly four months after paying nearly $29 million for the Oakwood Apartments, New York-based Pantzer Properties grabbed another residential building on the 1600 block of Sansom Street in the heart of Center City Philadelphia.<\/p>\n

As reported by the Philadelphia Business Journal<\/a><\/em>, Pantzer paid an estimated $40 million for the Sansom, an eight-story multifamily building located at 1605 Sansom Street, between the Hotel Palomar and the Oakwood Apartments. The acquisition was closed through Meridian Capital Group, which arranged a $31.5 million loan on behalf of Pantzer.<\/p>\n

Completed in 2012 by Pearl properties and designed by DAS Architects, the Sansom is an infill development including 104 rental apartments in a combination of studios, one-, and two-bedroom units, as well as bike parking, a fitness center and street-level retail space occupied by Adolf Biecker Spa and Salon, and restaurants Abe Fisher and Dizengoff. According to a blog post by PhiladlephiaHeights<\/a><\/em>, rents start at roughly $1,900 for a one-bedroom unit.<\/p>\n

According to the Commercial Observer<\/a><\/em>, the five-year loan was issued by Investors Bank and features a rate of 3.13 percent interest-only payments for the first two years, followed by an amortization schedule spanning 30 years.<\/p>\n

Click here<\/strong> for more market data on Philadelphia<\/strong>.<\/p>\n

 <\/p>\n

Image via Google Street View<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Roughly four months after paying nearly $29 million for the Oakwood Apartments, New York-based Pantzer Properties grabbed another residential building on the 1600 block of Sansom Street in the heart of Center City Philadelphia.<\/p>\n","protected":false},"author":258,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1494],"tags":[],"class_list":["post-1004105399","post","type-post","status-publish","format-standard","hentry","category-latest","category-philadelphia"],"acf":[],"yoast_head":"\nApartment Building on Sansom Street Changes Ownership in $40 Million Transaction - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/apartment-building-on-sansom-street-changes-ownership-in-40-million-transaction\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Apartment Building on Sansom Street Changes Ownership in $40 Million Transaction\" \/>\n<meta property=\"og:description\" content=\"Roughly four months after paying nearly $29 million for the Oakwood Apartments, New York-based Pantzer Properties grabbed another residential building on the 1600 block of Sansom Street in the heart of Center City Philadelphia.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/apartment-building-on-sansom-street-changes-ownership-in-40-million-transaction\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-10-09T18:55:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-23T14:26:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/10\/The-Sansom-1605-Sansom-Street-Philadelphia.jpg\" \/>\n<meta name=\"author\" content=\"Veronica Grecu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@VeraGrecu\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/apartment-building-on-sansom-street-changes-ownership-in-40-million-transaction\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/apartment-building-on-sansom-street-changes-ownership-in-40-million-transaction\\\/\"},\"author\":{\"name\":\"Veronica Grecu\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/e8362e8641769829162f16fe58091f62\"},\"headline\":\"Apartment Building on Sansom Street Changes Ownership in $40 Million Transaction\",\"datePublished\":\"2014-10-09T18:55:14+00:00\",\"dateModified\":\"2020-04-23T14:26:07+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/apartment-building-on-sansom-street-changes-ownership-in-40-million-transaction\\\/\"},\"wordCount\":215,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/apartment-building-on-sansom-street-changes-ownership-in-40-million-transaction\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2014\\\/10\\\/The-Sansom-1605-Sansom-Street-Philadelphia.jpg\",\"articleSection\":[\"News\",\"Philadelphia\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/apartment-building-on-sansom-street-changes-ownership-in-40-million-transaction\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/apartment-building-on-sansom-street-changes-ownership-in-40-million-transaction\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/apartment-building-on-sansom-street-changes-ownership-in-40-million-transaction\\\/\",\"name\":\"Apartment Building on Sansom Street Changes Ownership in $40 Million Transaction - 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