Investment Highlights
Developed by NRP Group in 2018, Edge 1909 offers a picturesque urban waterfront retreat featuring 364 units designed with custom finishes and a robust amenity package catering to the discerning taste of modern, affluent renters ($219,652 average income at Edge 1909). Continued demand is evident given the Property’s 60-day trade out increases of 7.43% on new leases and 4.06% on renewals, 75.83% YTD renewal retention, and a 97.53% occupancy rate; all signaling room for future rent growth.
EXCEPTIONAL INVESTMENT OPPORTUNITY FROM A TOP MULTIFAMILY DEVELOPER
Strip District fundamentals outperform all surrounding submarkets as demonstrated by a 425% increase in residents since 2010, the highest comparable average rents of any Pittsburgh submarket, and healthy overall 95.6% occupancy. Despite high barriers-to-entry, shrinking availability of suitable development sites, and influence of macroeconomic factors including inflated construction costs, Strip District development has powered through with notable recent expansion in retail, office, and hospitality projects supporting additional growth & demand.
SCARCITY OF OPPORTUNITY
Dubbed the “Silicon Strip,” The Strip District is home to 2.90M SF of office space and is fueled by a robust and expanding lineup of notable investments and employers in both tech and medical industries such as the region’s largest employer, UPMC, operating four hospitals within a ten-minute drive. The presence of tech players like Meta, GNC, Bosch, and Honeywell also contribute to a heavily sought-after and well-funded micro-neighborhood employing the region’s highly educated and well-paid talent.
MEDS, EDS, AND TECH DRIVERS
Pittsburgh has made a remarkable recovery from the post-industrial downsizing of the nation’s heavy glass & steel manufacturing, becoming a vibrant hub thanks to breakthrough technology companies bolstered by $13 billion in research funding over the past decade, world-class healthcare institutions like UPMC contributing $50 billion in economic impact and employing over 100,000 people, and cultivation of a deep talent pool with 88,000+ higher education students metro-wide with the best-known universities Carnegie Mellon University, Duquesne University, and the University of Pittsburgh.
PITTSBURGH IN THE SPOTLIGHT
6.
THE OFFERING
Berkadia and CBRE (“The Brokerage Team”) are pleased to present Edge 1909, an incredible opportunity to acquire 364 100% market rate, Class-A luxury rental apartments delivered in 2018, located in the heart of Pittsburgh’s most highly coveted, rapid-growth neighborhood, the Strip District. This exceptionally performing, 97.53% leased Property offers an unparalleled 95.0 Walkability Index indicating tremendous access to numerous shops, renowned dining options, three professional sports arenas, and nearly 10,000 neighborhood jobs.
Residents enjoy an irreplaceable riverfront oasis with skyline views, a luxurious amenity package, immediate access to the popular Three Rivers Heritage Trail, and five Pittsburgh Regional Transit stations.
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1909 WATERFRONT PLACE PITTSBURGH, PA 15222
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BERKADIA INVESTMENT SALES
BERKADIA MORTGAGE BANKING
LAURA LAWRENCE
Managing Director
laura.lawrence@berkadia.com
412.849.7512
DAN GEUTHER
Managing Director
daniel.geuther@berkadia.com
216.621.8289
ERIC BEVILACQUA
Associate Director
216.621.9001
eric.bevilacqua@berkadia.com
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2025 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
1909 WATERFRONT PLACE | PITTSBURGH, PA 15222
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APARTMENT AMENITIES
Two Finish Styles
Fob Entry
Quartzite Countertops
Ivory or Charcoal Flat Panel Modern Cabinets
Tile Backsplash
Stainless Steel Appliances
Undermount Stainless Sink with Single Stem Faucet
LVT Plank Flooring
Ceiling Height: 9’-12’
Modern Premium Lighting Package (Ceiling Fan, Pendant, and Track Lighting)
Balconies and Patios*
White Solar Shaded Windows and Doors
Brushed Nickel Barrel Pull Bars
Floating Vanity with Under Cabinet Lighting
Tiled Shower
Custom Closet Systems
Smart Home Package*
In-Unit Washer and Dryer
COMMUNITY AMENITIES
Fifth Floor River View Lounge and Deck with Dining Area, Fire Pit, and TVs
Resort-Style Pool with Sun Ledge and Grilling Patio
Fully Equipped Fitness Center with Ballet Bar and Fitness On-Demand
Custom Resident Lounge with Demonstration Kitchen and Billiards Area
Co-Working Spaces and Conference Room
Children’s Playroom Adjacent to Fitness Center
Outdoor Grilling Patio and Dining Area
Oasis Courtyard with Fire Pit and Lounge Seating
Dog Park and Pet Spa
24-Hour Package Concierge
Resident, Bike, and Kayak Storage
*in Select Units
Mark Vogel
Senior Managing Director 216.621.9000 mark.vogel@berkadia.com
CBRE INVESTMENT SALES
BRIAN MCAULIFFE
Vice Chairman
312.935.1891
brian.mcauliffe@cbre.com
MARTHA HASTINGS
Executive Vice President
410.244.3162
martha.hastings@cbre.com
MICHAEL MULDOWNEY
Executive Vice President
410.244.3144
mike.muldowney@cbre.com
WILLIAM ROOHAN
Vice Chairman
410.244.3122
bill.roohan@cbre.com
LOCATION
YEAR BUILT 2018
OCCUPANCY (6/29/2025) 97.5%
LAND AREA 190,658 SF (4.38 acres)
BUILDINGS One STORIES Five
RENTABLE SF 319,286 SF
TOTAL UNITS 364 (100% market rate)
TOTAL PARKING 459 Garage Spaces at $150/mo.
AT A GLANCE
Pittsburgh in the Spotlight
#1
#1 UNDERGRADUATE AND
GRADUATE AI PROGRAMS
U.S. News & World Report,2024
#1
BEST PLACE TO LIVE IN
PENNSYLVANIA
U.S. World Report, 2025
#1
BEST LARGE CITY TO MOVE
TO AFTER COLLEGE
Porch, 2024
#1
FASTEST GROWING TECH
HUB IN THE U.S.
Dice, 2025
#3
MOST AFFORDABLE CITY
FOR REMOTE WORKERS
CoWorking Café, 2024
#3
MOST LIVABLE
U.S. CITY
The Economist, 2021
#4
STARTUP ACTIVITY AMONG
MIDWEST CITIES
Midwest Startups, 2024
#5
BEST U.S. CITY FOR YOUNG
PROFESSIONALS
Niche, 2025
AMENITIES
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