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Le Crillon Philadelphia Sells for $15M

PHILADELPHIA– Marcus & Millichap Real Estate Investment Services has closed on the sale of the 16-unit Beaux Arts-style apartment building with seven retail spaces in Center City Philadelphia. The deal equates to $925,625 per unit and $355 per square foot.

By Antoinette Martin | Updated on May 30, 2012

PHILADELPHIA–Marcus & Millichap closed the sale of Le Crillon Philadelphia, a 16-unit Beaux Arts-style apartment building with seven retail spaces in Center City Philadelphia. All the units are currently leased or pre-leased as apartments. The sales price of $14,810,000 equates to $925,625 per unit and $355 per square foot.

“This is a phenomenal location, one block from Rittenhouse Square park,” Christopher Munley of Marcus & Millichap’s Philadelphia office tells GlobeSt.com. “There were multiple bids and the buyer made a generous offer, paying almost $1 million over asking price.”

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