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Updated almost 9 years ago on . Most recent reply

Irfan Raza's profile image
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Irfan Raza
  • Accountant
  • from New Jersey
  • Member since Jan 3, 2015
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Irfan Raza's profile image
Irfan Raza's profile image
Irfan Raza
  • Accountant
  • from New Jersey
  • Member since Jan 3, 2015
Connect
Irfan Raza
  • Accountant
  • New Jersey
167
Votes |
210
Posts
Real Estate Deal Analysis & Advice

10 Unit Development Project in Philadelphia

Irfan Raza
  • Accountant
  • New Jersey
Posted

Closed on our side of a 10 unit development project in Philadelphia today.  We owned 1436 Poplar Street and connected with 1434 to build 10 units together.  Our side of our building containing 5 units was sold to an real estate investor from New York City for over $1.2 million.  It is interesting to see more and more NYC investors coming to Philly and I am not surprised comparing our cap rates to the rates in NYC.  Pictures of the development are below.

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