PHILADELPHIA, Jan. 18, 2018 (GLOBE NEWSWIRE) -- Rittenhouse Realty Advisors is pleased to announce the sale of 522 and 524 Spruce Street in the Washington Square neighborhood of Philadelphia.  The two adjacent properties consist of 12 units within walking distance to Pennsylvania Hospital and Thomas Jefferson University Hospital, two major employers in the city.

Washington Square is one of the most amenity rich neighborhoods in the city, and is home to some of Philadelphia’s top restaurants and shops, as well as the historic Washington Square Park, one of the city’s five original park squares. 

“The site is located in one of the best areas of the city,” stated Ken Wellar, Managing Partner of Rittenhouse Realty Advisors. “The new owner plans to redevelop the property to offer a product that meets the expectations of prospective tenants in the neighborhood.” 

For more information on current rates or to view our available listings visit

Based in Philadelphia, Pennsylvania, Rittenhouse Realty Advisors is a real estate advisory firm with an extensive focus in the brokerage of multi-family communities throughout the northeast region of the United States. Formed in February 2013 by a group of advisors with more than 30 years of commercial investment sales experience, our focus is on multi-family and mixed-use properties with significant residential components.

A photo accompanying this announcement is available at

Press Contact:
Corey Lonberger and Ken Wellar
Managing Partners