The Property is comprised of 53 luxury apartment units and 5,328 square feet of fully leased premium retail space in Center City Philadelphia. 1600 Chestnut represents one of the most prestigious corners in Philadelphia, situated directly west of Broad Street with immediate access to public transportation. Furthermore, Class A rents in this area represent the top of the market, pushing $5/SF across multiple assets. The Property is comprised of studio and one-bedroom apartments boasting high-end finishes including stainless steel appliances, stone countertops, wood flooring, vaulted ceilings, and abundant natural light. These luxury units feature Central HVAC and impressive city views. The Asset offers new ownership the opportunity to increase rents by 11% through natural turnover, while staying well below the surrounding Class A product. If a more robust renovation plan were to be executed, rent premiums of $300+ could be achieved while still sitting comfortably below the top of the competitive set. The retail tenants at 1600 Chestnut are some of the best fast-casual F&B tenants in the market. Wonder, Spread Bagelry, and Insomnia Cookies all have a long track record of success and multiple locations. These businesses are well-positioned given the quality of this corner (20,000± daily pedestrian count), proximity to office workers, and the density of the surrounding Center City neighborhoods. The Property is located minutes from major thoroughfares such as I-76, I-676, and I-95, providing unparalleled access to the Philadelphia MSA. A major train station at 17th and JFK Boulevard is a short walk away, carrying commuters throughout Philadelphia and into the Philadelphia Suburbs via the SEPTA Regional Rail. Current and future tenants are a short walk from both the CBD Class A office buildings and Rittenhouse Square Park, an iconic green space that defines Center City living. *Price per Unit of $290,698 based on 86 Total Units [53 Apartment Units + Commercial Space (Equivalent to 33 Units)]