Agent PHL Closes Prime 38-Unit Multifamily Sale in Philadelphia for $8,415,000

PHILADELPHIA, Jan. 12, 2026 /PRNewswire/ -- Agent PHL has formally announced the sale and settlement of 6610 Germantown Avenue, aka "Pelham Place Apartments" in the coveted Mount Airy submarket of Northwest Philly (NWPHL). The investment sale was brokered exclusively by Ryan McManus and Brandon Ribeiro, Partners of Agent PHL with KW Liberty Place, on behalf of a local developer. The locally-based buyer acquired the real estate via 1031 exchange, expanding its multifamily holdings in the Mount Airy community. The seller's loan with Citizens Bank was retired as Penn Community Bank provided additional financing for the borrower to supplement the 1031 exchange funds.

The sale of Pelham Place Apartments represents one of the most attractive boutique multifamily acquisition opportunities in the Greater Philadelphia MSA — a "like new" construction elevator apartment building located in a thriving Philly neighborhood, at a value below replacement cost — as evidenced by the multiple offers the property commanded during the exclusive marketing period.

Said Ribeiro: "As the new administration enacts productive fiscal and housing policies plus interest rate softening measures on a macroeconomic scale, we believe the 2026 market will provide us a with a healthy and robust "new normal" environment in which buyers and sellers of commercial real estate can confidently get back to business and transact, while we provide our valued clientele with unparalleled deal access coupled with certainty of execution through our best-in-class approach, rooted in integrity and built upon sustainable relationships."

Originally developed in 2017 on a substantial ±15K SF parcel along the quaint cobbles of Germantown Avenue, the 38-unit multifamily property is anchored by two (2) essential businesses on the ground floor, while 36 apartments rise 4 storeys vertically up to a landscaped green roof with panoramic vistas of Mount Airy and the surrounding lush landscape in this bucolic suburban-like setting. The favorable unit mixture includes two (2) commercial units, four (4) 1bd, twenty-seven (27) 2bd, and five (5) 3bd apartments. The oversized apartment homes feature contemporary fit + finish kits with common building amenities such as a 24-7 fitness center and a fully-furnished "live-work-play" lounge mimicking the look and feel of a luxury boutique hotel — complete with with work stations, a full-sized wet bar, televisions, gaming, fireplace, coffered ceilings, wallpapered surrounds and local artwork. Keyless entry, packaging and digital high-tech security intercoms provide a seamless building access experience while private parking is available for residents as an added convenience, in addition to the on-site cafe.

Located in the cozy Mount Airy neighborhood just outside of Center City Philadelphia, residents of this ±51,835 SF apartment building benefit from proximity to boutique shops, cafes, grocers, restaurants and multimodal transport options — placing the entire city within reach — while also providing easy access to natural public amenities like Wissahickon Valley Park, with its miles of hiking, running, cycling trails and fly-fishing streams, as well as premier private golf and racquet sports facilities at nearby country clubs like the Philadelphia Cricket Club.

Said McManus: "Closed deals are expected to continue spiking throughout Philadelphia's most coveted communities in 2026 — savvy developers and investors are retreating from the sidelines, actively participating in the capital markets at levels not seen since mid-2022 — our Q1 '26 internal pipeline of pending deals alone is on pace to exceed 2025's gross annual sales volume, signaling an acceleration of market-moving trades on the near-term horizon."

Philadelphia ranked amongst the top "most competitive" multifamily rental markets in the USA during 2025 and maintains its position heading into 2026 as a Top-10 leader nationally for projected rent-growth. Yet, its underlying fundamentals of affordability paired with job accessibility, regional connectivity, world-class higher-education and research institutions, internationally-recognized culinary and cultural ecosystem, corporate headquarters presence, and of course, the defending Super Bowl Champion Philadelphia Eagles — make Philadelphia a relative bargain compared to its pricier Mid-Atlantic counterparts, without the "high barriers-to-entry" limitations in place  in markets like New York, Washington, D.C. and Boston. On December 19th, The Wall Street Journal named Philadelphia the #1 Best Place to Visit in 2026 — in the entire world — as America celebrates its 250th anniversary while multiple major sporting events, including the World Cup, converge upon Philadelphia in the summer of 2026.

Please direct future commercial real estate sales enquiries to [email protected] or Brandon@AgentPHL.com. Visit our website at www.AgentPHL.com.

About Agent PHL:

Agent PHL was founded in 2016 by Ryan McManus as a full-service commercial real estate sales firm focused primarily on land development and multifamily investment listings. The firm retains the talent, tools and technology to compete with blue chip national firms, yet remains boutique and nimble enough to service the most distinct, exclusive clientele with a neighborhood-mastery, knowledge-based approach to sales. Partners Ryan McManus and Brandon Ribeiro possess the local expertise, reputation, and connections to be considered amongst the top CRE listings agencies in the Greater Philadelphia MSA — with a growing footprint in New Jersey.

SOURCE Agent PHL