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Marcus & Millichap Negotiates $16.6M Sale of Apartment Building in Philadelphia

1003-1011-Race-St-Philadelphia

Located at 1003-1011 Race St. in Philadelphia, Dynasty Court Apartments features 56 apartments, five retail storefronts and 21 parking spaces.

PHILADELPHIA — Marcus & Millichap has arranged the sale of Dynasty Court Apartments, an apartment building located at 1003-1011 Race St. in the Chinatown neighborhood of Philadelphia. A local partnership sold the property to a local development company for $16.6 million. The property features 56 apartments, five retail storefronts on Race Street and 21 parking spaces. Andrew Townsend, Ridge McLaren and Clarke Talone of Marcus & Millichap represented the seller, while Townsend, McLaren, Talone and Philip Sharrow, also of Marcus & Millichap, represented the buyer in the deal. Additionally, Matthew Rosenberg of Marcus & Millichap Capital Corp. arranged acquisition financing for the buyer.

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