Greysteel Arranges The Sale Of The Former Lawndale Hospital In Philadelphia, PA

8/23/16

Caleb Brown

Greysteel, a national commercial real estate investment services firm, has arranged the sale of Lawndale Suites, a former hospital in Northeast Philadelphia, PA to Metal Unruh, Inc. on behalf of Lawndale Classic Suites LLC.

This transaction was arranged by Greysteel Senior Investment Associate, Caleb Brown, who is based in the Company’s Philadelphia, PA office.

The property, located at 623-637 Unruh Avenue, was previously the Lawndale Hospital, part of Temple University’s Jeanes Hospital system. While under contract, the property was rezoned and the owner is planning to perform major renovations to convert the property to 30 market-rate apartments. Lawndale Suites is situated in the Lawncrest neighborhood of Philadelphia, within walking distance of the Lawndale train station providing access to Center City.

About Greysteel:

Greysteel is a commercial real estate and capital markets services firm with seven offices located in Los Angeles, CA; Washington, D.C.; Baltimore, MD; Philadelphia, PA; Dallas, TX; and Fort Worth, TX. Greysteel serves and advises private and institutional real estate investors and developers in the marketing, sale, and financing of private capital and middle-market real estate assets.

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