Saul Richter bought condo Unit #505 at 1600 Arch St. in Philadelphia from SAS 1600 Arch Street LP for $298,500 on July 8.

The 1,037-square-foot unit was built in 2007 and is one of 267 properties in the 16-story development known as The Phoenix. It is located in the Center City West neighborhood.

Richter is founder and managing partner at Emerald Stage2 Ventures, and sits on the boards of Evident Software, Maverick Network Solutions and ClickEquations.

Previously, he was a principal at Himalaya Capital. Prior to that, he worked at Lucent Technologies in the New Ventures Group.

He received his B.A. in economics from Columbia University and his M.B.A. from Columbia Business School.

According to BlockShopper.com, there have been 942 condo sales in Philadelphia during the past 12 months, with a median sales price of $255,000.

Address: 1600 Arch Street
Buyer(s): Saul Richter
Seller(s): Sas-1600 Arch Street L P
Sale date: Jul. 8, 2010