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Transactions - NOVEMBER 18, 2021

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Manor Holdings pays $51m for modular-built apartment building

by Released

Israel Terkeltaub of Manor Holdings, an owner/operator based in northern New Jersey, has acquired The HUB at 31 Brewerytown, a recently constructed luxury apartment building containing 201 apartments with on-site parking, located at 1406-1446 N 31st Street in Philadelphia. The sales price was $51 million.

Rittenhouse Realty Advisors, a commercial real estate sales brokerage firm, arranged the sale on behalf of the seller, a long-time Philadelphia-area real estate developer.

The property was built in 2018 using modular construction. The HUB offers tenants more than 20,000 square feet of indoor and outdoor amenity space that includes a pool, gym, outdoor kitchen, fire-pit lounges, indoor lounge spaces and life-style centered amenities, as well as 8,000 square feet of work-share space. The pet-friendly property also offers a dog park and dog-washing station. Units feature luxury kitchen and bath finishes, in-unit laundry, and stainless steel appliances.

Ken Wellar,

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