Philadelphia · Commercial sale
Awbury Apts PA buys 1240 Washington Ln in Philadelphia for $5.78 million
An apartment building at 1240 Washington Ln, Philadelphia sold for $5,780,000 on July 8, 2026. See the seller and buyer net sheets for this sale.
- Sale price
- $5,780,000
- Sold
- July 8, 2026
- Property type
- Apartment building
- Building area
- 25,926 sq ft
- Price per sq ft
- $223
- Year built
- 1961
An apartment building at 1240 Washington Ln in Philadelphia changed hands for $5,780,000 on July 8, 2026, according to the Philadelphia Department of Records' real estate transfer records. That price is 62% above the $3,560,300 market value on record at the Philadelphia Office of Property Assessment.
The transfer record lists Awbury Apts PA LP as the buyer and Gelfund 2 Awbury Apartmentslp as the seller.
The Office of Property Assessment's records show 25,926 square feet of building area, a 1961 construction date and a 0.9-acre lot. At that size, the price works out to $223 per square foot. The most recent earlier sale on record, $7,900,000 in 2022, was higher than this one.
An aerial photo of the property shows its setting: 3 buildings and a large parking lot on a site at a street corner.
What this sale costs to close
What does closing cost at this price? Under Philadelphia custom the seller's larger charges are $103,404.20 for the philadelphia realty transfer tax and $28,900 for the state realty transfer tax. The seller's estimated net is $5,605,690 before brokerage commissions and any loan payoff. A cash buyer would need about $5,971,984 at closing.
Source: Philadelphia Department of Records, real estate transfers (OpenDataPhilly), document 54572963. Property details: Philadelphia Office of Property Assessment. Net sheets are estimates from the NetSheet.org rules engine, not the parties' actual closing statements. Request a correction or removal.
