|
|
Article: Vintage Group buys multi-family property.(Finance: real estate)(Brief Article)
- Article from:
- Real Estate Weekly
- Article date:
- October 6, 2004
CopyrightCOPYRIGHT 2004 Hagedorn Publication. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Members of the Vintage Group, LLC, a New York City real estate investment company, have purchased The Apartment Center, a 456-unit multifamily property in Northeast Philadelphia, according to Gary Podell and Andrew Schwarz, principals in Vintage Group.
The properties were developed by the locally prominent Korman family in the 1940s.
The acquiring entity is Audubon Philly, LLC, whose principals are Mr. Schwarz, Mr. Podell, and Erie Nelson and Charles Reyher, also of Vintage. The sales price was $16,000,000.
"The Apartment Center was developed, owned and managed by the same family for six decades, and that says a lot about the kind of property ...