Just two years after purchasing the Sansom apartment building for $42 million, NY-based developer Pantzer Properties has listed the Rittenhouse Square complex for $55 million.
In 2014, Pantzer bought the 104-unit Sansom and its next-door neighbor the Oakwood, an 80-unit apartment building. There is 25,000 square feet of retail on the ground floor, including the Adolf Biecker Spa/Salon and the restaurants Dizengoff and Abe Fisher.
It's not clear why the developer decided to list the property for sale, which is currently about 97 percent occupied. In fact, just last month Pantzer announced that it planned to expand their portfolio in Philadelphia. It just bought the Executive, 20-story apartment complex located 6100 City Avenue.