PHILADELPHIA, PA, February 1, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Edgewood Manor, a 49 unit Apartments property located in Philadelphia, PA, according to Spencer Yablon, Vice President/Regional Manager of the firm’s Philadelphia office. The asset commanded a sales price of $350,000.
Andrew Townsend, Clarke Talone and Ridge MacLaren, investment specialists in Marcus & Millichap’s Philadelphia office, had the exclusive listing to market the property on behalf of the seller, a partnership. The buyer, a limited liability company, was secured and represented by Fred Paisley and Dana Newton, investment specialists in Marcus & Millichap’s Philadelphia office.
Edgewood Manor is located at 1500-1510 Allegheny Avenue.
With more than 1,000 investment professionals in offices nationwide, Marcus & Millichap Real Estate Investment Services is the largest firm specializing in commercial real estate investment services in the nation. Marcus & Millichap closed 5,085 transactions in 2011, the highest of any commercial real estate brokerage firm. Founded in 1971, the firm has perfected a powerful system for marketing properties that combines product specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology and relationships with the largest pool of qualified investors nationally.