Morning Headlines: Pantzer Properties Buys the Sansom For $42 Million
A new rental community seems to be in the works for the corner of 16th and Samson. The Philadelphia Business Journal’s Natalie Kostelni reports that New York-based Pantzer Properties has acquired an eight-story building at 1605 Samson Street, its second purchase on the block this year.
Pantzer previously bought the Oakwood Philadelphia at 1601 Samson for $28.87 million. That property, which has 80 residential units and 11,192 square feet of retail space, is slated to become a market rate rental community called the Point at Rittenhouse Row.
Kostelni says their latest purchase of the Sansom apartment complex (104 rental units and 10,900 square of retail space) cost $42 million.
• New York firm buys the Sansom apartment complex in Center City [Business Journal]
In other news…
• Norristown Council OKs tax abatement for apartment building [Times Herald]
• First Baptist Church of Ardmore condo conversion moving forward [Main Line Times]
• Landlords Who Don’t Get Rental Licenses Take Enormous Risks [Philadelinquency]