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 Gebroe-Hammer Associates Download Word Doc: Click Here Release Date: February 28, 2008 ARDLEIGH GARDENS IN PHILADELPHIA SELLS FOR $1.525 MILLION PHILADELPHIA, Pa., February 28, 2008 – Eli Rosen, vice president of Gebroe-Hammer Associates, recently negotiated the $1.525 million sale of Ardleigh Gardens, a 26-unit apartment building in Philadelphia’s East Mt. Airy neighborhood. Gebroe-Hammer Associates is one of the most active multi-family investment brokerage firms in the tri-state area. Rosen, who is the company’s lead broker in Philadelphia, has spearheaded the firm’s successful entry into this market during the past three years. “This building is in truly excellent condition,” said Rosen. “The quality of the building’s maintenance was a strong draw for the buyer.” The property, which is fully occupied, features walk-up units comprised of two-and-a-half floors. Each offers one- or two-bedroom layouts. Located at 615 East Upsal St., the building is near bus and train transportation as well as the Shelton Avenue and Germantown Avenue shopping districts. Ardleigh Upsal LP procured the property from Ardleigh Gardens, LP. Rich Kelin of Feinstein, Raiss, Kelin and Booker of West Orange, N.J., represented the buyer in the transaction. “Philadelphia’s high occupancy rates have been a key reason for investor activity,” said Ken Uranowitz, managing director of Gebroe-Hammer. “The strength of the city’s rental market has kept sales prices rising steadily.” ### Gebroe-Hammer Associates 
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