Newmark Arranges $24.5M Sale of Apartment Building Near Downtown Philadelphia

PHILADELPHIA — Newmark has arranged the $24.5 million sale of a 95-unit apartment building in the Logan Square neighborhood near downtown Philadelphia. The six-story building at 1600 Callowhill St. was originally constructed in 1926 (renovated in 2019) and offers 2,500 square feet of retail space. According to Apartments.com, units come in studio, one- and two-bedroom floor plans that range in size from 504 to 1,225 square feet, and amenities include a fitness center, sundeck and package handling services. Erin Miller, Steven Schultz and Chris Koehler of Newmark represented the seller, Ivy Realty, in the transaction. The buyer was Turio Residential Co.