PRIVATE INVESTOR SELLS PARK PLACE APARTMENTS FOR $1.6M

PHILADELPHIA — Marcus & Millichap has arranged the $1.6 million sale of Park Place Apartments, a 30-unit apartment property at 5730-42 Frankford Ave. in Philadelphia. The seller, a private investor, developed the property in the early 1970s. Dana Newton and Fred Paisley of Marcus & Millichap represented the seller in the transaction. They also secured the buyer, a limited liability company.