By ROBERT LINNEHAN
The Chestnut House, located on 25 Chestnut Avenue, was sold last week to Friedman Realty Group for more than $2.5 million, according to CB Richard Ellis’s Philadelphia Metro Private Client Group.
CBRE’s Philadelphia Vice President Stephen Mazullo confirmed the purchase and said the full sale price was $2.55 million for the Chestnut House. The house was sold by a private group — consisting of several family members that owned the building, Mazullo said — to Friedman Realty Group.
Friedman Realty Group, Inc. is a professional real estate investment and management firm accredited by the Institute of Real Estate Management of the National Association of Realtors.
Representatives from the realty group will comment on the purchase of the building later this month.
The house is a mixed-use building with commercial office space on the bottom floor and 18 multi-family units on the second floor of the building. The commercial floor space on the bottom floor is over 8,200 square-feet.
In the rear of the property is one of the largest public parking lots in Haddonfield, Mazullo said.
Mazullo was joined by Senior Associate Mark Duszak of CBRE’s Philadelphia Multi-Housing Group, who led the sale of the asset. The team also included John McFadden, Robert Miller and Matthew Stefanski of CBRE’s Philadelphia Multi-Housing Group and Justin Marlowe of CBRE’s Philadelphia Metro Private Client Group.
Author’s note: The Haddonfield Sun ran an incorrect picture for the Feb. 23-March 1 issue of the paper for the Chestnut House. The correct picture of the building is at the start of this post. The Sun regrets the error.
