Two Northeast multi-family units sell for combined $3.1 million

By Christopher Wink

Two multi-family apartment buildings with a total of 57 units in the Northeast were recently sold for $3.1 million, both brokered by Gebroe-Hammer Associates

Marsden-Palmer Management sold both its 32-unit Marsden Apartments for $1.85 million and its 25-unit Palmar Apartment complex for $1.25 million to a private investor, according to commercial real estate blog CREFeed.com.

The Marsden Apartment complex, located at 8532-52 Marsden St. off Torresdale Avenue in Holmesburg, has 32 two-bedroom units and is 95 percent occupied.

The Palmar Apartment complex with 25 units is located at 5926 Bustleton Ave. near where Penn and E. Comly streets intersect in Frankford, not in Bustleton as the blog inexplicably suggests.

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