Northmarq brokers sale of 319-unit Ascent 430 luxury multifamily community in Pennsylvania

WASHINGTON, D.C. (June 4, 2024) — Northmarq’s Mid-Atlantic Investment Sales team consisting of Chris Doerr, Will Harvey, Shack Stanwick, Ari Azarbarzin, Anthony Pino, Matt Straughan and Jack Brocato recently announced the sale of Ascent 430. Situated in Wexford, PA an affluent suburban submarket of Pittsburgh, the 319-unit multifamily property delivered in 2015 and spans approximately 30 acres. Northmarq represented the seller.

“Ascent 430 is a prime example of the strength of the market for core plus investment opportunities in affluent, hard-to-entitle submarkets that offer investors good school ratings and strong demographics,” said Doerr.

Known for its ideal blend of suburban charm and “no-tunnel” access to Downtown Pittsburgh, Wexford is synonymous with convenience. Boasting an average income of $155,000 within a one-mile radius, largely driven by the area’s largest employer (University of Pittsburgh Medical Center), residents seek out the popular suburban submarket for its robust retail amenity base, scenic beauty and desirable living conditions. In addition, Ascent 430 residents benefit from nearby access to I-79 and I-76, two of Pittsburgh’s main thoroughfares, that allows them quick access to the region’s largest employment corridors and entertainment hubs including Cranberry, Ross Township, the Strip District, Lawrenceville and Shadyside.