Sunday, September 14, 2014
Inquirer Daily News

Greenfield sells LeCrillon to NY firm for $14.8M

$355/sq ft

Greenfield sells LeCrillon to NY firm for $14.8M

Albert "Moose" Greenfield 3d's real estate company, named for his grandfather, a prominent developer, political donor, hotel and retail investor, has sold Le Crillon Philadelphia, a 16-unit (12 flats, 4 bi-level penthouses) plus 9 retail space apartment house at 105 S. 18th St. near Rittenhouse Square, to an as-yet unnamed New York buyer for $14.81 million.

Ken Wellar, Corey Lonberger and Christopher Munley of Marcus & Millichap's Philadelphia officer represented the seller. M&M says the price works out to $355 a square foot. The apartments average $3,900/month. The stores include DiBruno Bros. foods, Flower Expressions, 18th Street Apothecary, Scoop DeVille, Premium Steap, and Clear; M&M says the rents are the "highest" per sq ft on Chestnut St., once the city's premier shopping district before a 1970s experiment with banning motor traffic shifted high-end shops over to Walnut.

Joseph N. DiStefano
About this blog

PhillyDeals posts raw drafts and updates of Joseph N. DiStefano's columns and stories about Philly-area finance, investment, commercial real estate, tech, hiring and public spending, which he's been writing since 1989, mostly for the Philadelphia Inquirer.

DiStefano studied economics, history and a little engineering at Penn, taught writing at St. Joe's, and has written the book Comcasted, more than a thousand columns, and thousands of articles, and raised six children with his wife, who is a saint.

Reach Joseph N. at JoeD@phillynews.com or 215 854 5194.

Joseph N. DiStefano
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