Pantzer Properties of New York on Wednesday acquired the 13-story, 80-unit Oakwood Philadelphia at 1601 Sansom St. for $29 million, according to JLL Capital Markets, which arranged the transaction.

The building, owned by Jones Lang LaSalle, was leased by Oakwood Worldwide of Los Angeles, has offered short-term rentals for corporate executives at $129 to $174 a night.

Oakwood Philadelphia, which will be renamed Point at Rittenhouse Row and offer market-rate rentals, has 77,656 square feet of rentable apartment space and 11,192 square feet of retail and commercial space.

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