Wednesday, May 24, 2017

3601 Market Street Apts Hits the Market

Southern Land Company, a residential developer, has put to market for sale its 363-unit apartment building at 3601 Market St. in Philadelphia, PA to prospective buyers.

The property is being listed without an asking price.

The 28-story, 443,000-square-foot multifamily property was built in August 2015 on nine-tenths of an acre in the University City MF submarket of Philadelphia County.

The LEED Silver-certified tower features 26,000 square feet of ground-floor retail space home to Jimmy Johns and Dunking Donuts beneath a mix of studios, efficiencies, one- and two-bedroom apartments and penthouses, seven elevators, concierge, business center, game room, fitness center, swimming pool, 200-stall parking garage and on-site management. The asset was 32 percent vacant at the time of sale, and asking rents range between $1,800 and $4,700 per month for apartments averaging between 427 and 1,543 square feet each.

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