LANCASTER, PA—The Kislak Company has sold threemultifamily properties in eastern Pennsylvania for nearly $42million.
The transactions include the $31.1 million combined sale ofBelair Townhomes, a 208-unit property, andMayfair Manor Apartments atGrandview, a 60-unit property, both in Lancaster.Kislak also handled the $10.6 million separatesale of Auburn Station, an 85-unit loft-styleproperty with land to build an additional 49 units in Allentown.Robert Holland, Kislak'spresident, represented the sellers and purchasers, longtime Kislakclients, in both transactions.
“The central and eastern PA market is very hot for both buyersand sellers,” Holland tellsGlobeSt.com exclusively. “It was a good time forthe sellers to sell given the premium pricing. It was also a goodtime for the buyers to buy given the growth potential amid lowinterest rates with an eye toward long term hold.”
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
