by Natalie Kostelni
Chestnut Hill Tower, a 228-unit apartment building at 7600 Stenton Ave. in Philadelphia, has traded for $16.75 million.
The seller and buyer were not disclosed. There is a growing demand from local owners, as well as investors from outside the region, for apartment buildings throughout Philadelphia.
The 18-story luxury high-rise sits on just over five acres and includes 12 ground-floor retail units. The property includes a mix of studio, one-, two- and three-bedroom units with monthly rents ranging from $750 to $1,500.
Full story: http://tinyurl.com/9jwhgcs
