An affiliate of Westport, Conn.-based real estate investment firm Dalzell Capital Partners LLC has paid $10.8 million for 1430 South St., a 34-unit apartment building with ground-floor retail space.
The acquisition is Dalzell's first in Philadelphia, the company said in a news release Monday. It is teaming with Philadelphia real estate firm OCF Realty, owned by developer Ori Feibush, to manage the property and advise on future acquisitions in the city, it said.
The purchase, from an entity called New South Philly LP, closed on Thursday, Dalzell managing partner Christian Dalzell said in an email. New South Philly is an affiliate of Wendell Family Investments Ltd., which is incorporated in Delaware, according to state records.