Post Brothers is working to set a new standard for amenities with Piazza Alta, a newly built Philadelphia apartment property.
To wrap up the day’s events, CO Editor in Chief Max Gross moderated a discussion on investment sales with PGIM Real Estate Executive Director Justin Levitt, Post Brothers Chief Investment Officer Zak Klinvex, and Ripco Real Estate Vice Chairman Stephen Preuss.
How the Fed decides to unwind trillions of dollars of government debt it owns, could also play a role in what happens with mortgage rates, said Matt Pestronk, president and co-founder of Philadelphia-based real estate firm Post Brothers.
At The Atlantic, a 268-unit community in Philadelphia’s Center City, that rent—ranging from $2,095 for a studio to $7,725 for a three-bedroom—includes tech goodies like an iPad installed on the wall of each unit to manage lighting, the Atmos Home automated environmental control system, and Lutron-powered window coverings. While all of that is built into the rent, Pestronk estimates the technology package, which costs $3,000 to install, helps him command an extra $200 to $300 per month, for a 10- to 15-month payback.
Read more at Multi Family Executive, https://www.multifamilyexecutive.com/technology/smart-tech-pays-off-for-multifamily-operators_o