SSH represented 1201 Chestnut Street Partners in the sale of a 98-unit apartment property with ground floor retail in the Philadelphia CBD. The property was a redevelopment of a turn-of-the-century historic office tower. The sale process was complicated as SSH had to walk the buyer through details surrounding Historic Tax Credits and Philadelphia’s tax abatement program and assessment methodology for redeveloped properties. The SSH Investment Team was successful in selling the property to an international pension-fund advisor who purchased The Commonwealth on behalf of a German client.
The Commonwealth at 1201 Chestnut Street