Pantzer Properties, a New York real estate firm, has purchased an 18-month-old apartment building in Berwyn for $96.5 million from developers Bozzuto and Echo Realty, writes Ryan Mulligan for the Philadelphia Business Journal.
The deal is the largest publicly recorded multifamily sale in the Philadelphia region so far this year.
The 250-unit Ember at Berwyn, located at 400 Swedesford Road, opened in 2023. It replaced a demolished building that was once home to HHgregg.
The four-story, 308,448-square-foot building is now part of Pantzer Properties’ “The Point” brand and has been rebranded as The Point at Berwyn. The building is managed by Panco Management, a subsidiary of its new owner.
Studio rents at the property start at $1,802 per month, while three-bedroom units go up to $4,400.
The building features coworking space, a fitness center, a pool, and barbecue grills as shared amenities. The company is already planning on enhancing the property’s current amenities and services.
“The Point at Berwyn is a strong addition to Panco’s portfolio, offering a prime Main Line location near King of Prussia and Malvern – key regional destinations and employment hubs,” said Pantzer Properties.
Read more about The Point at Berwyn being sold in the Philadelphia Business Journal.
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