Posted Sep 5, 2019, 8:38 PM
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Registered User
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Join Date: Jan 2017
Posts: 518
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Quote:
Originally Posted by summersm343
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Here you go...
Quote:
The owner of 1620 Sansom St. will test the strength of a long-term lease with Sonder, a San Francisco company that is taking on Airbnb and traditional hotels by leasing up apartment buildings and renting the units out much like a Four Seasons or Marriott would a room.
An entity affiliated Bridge Funding of New York and Ravi Chawla, a Philadelphia real estate investor, owns the property that runs from 1608-1634 Sansom St. and has a 10-year master lease with Sonder on a proposed multifamily project that would be built on top of an existing 300-space parking garage. The project would have 208 apartments in 147,000 square feet and the owner has put that along with the master lease up for sale for $32 million.
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