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Newmark Completes Largest Single-Asset Multifamily Sale in Philadelphia's History With $233 Million Acquisition of 1500 Locust

PHILADELPHIA, PA - Newmark announced it has completed the sale of 1500 Locust, a 45-story, mixed-use multifamily building in the famous Rittenhouse Square Submarket of Center City Philadelphia. The 612-unit property sold for $233 million, the largest single-asset sale in the history of Philadelphias multifamily market. Newmark Executive Managing Directors Lizann McGowan Erin Miller represented the seller, Barings, which traded the asset on behalf of an institutional client. The asset was...
City Of Philadelphia United States Rittenhouse Square Lizann Mcgowan Erin Miller Chris Koehler Kimmel Center

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1500 Samson Street streetery hit with stop work order

WHYY By The 1500 block of Sansom Street in Center City Philadelphia is closed for outdoor dining. (Kimberly Paynter/WHYY) During the day, the 1500 block of Sansom looks like an outdoor festival frozen midway through setup — popup tents and police-style barricades are mixed in with wooden sheds custom built for outdoor dining. By night, it’s one of Philadelphia’s biggest successes in an experiment with converting conventional city blocks into “streeteries,” or outdoor dining areas burn...
New York United States Kevin Lessard Councilmember Allan Domb Eryn Santamoor Tom Earle
Source: whyy.org

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