A Brooklyn property management company bought an 85-unit
two-story apartment building in Allentown for $10.6 million.
Auburn Station, on Auburn Street near Martin Luther King
Jr. Drive, is a loft-style apartment building – a former mill – with land to
build another 49 units.
Lehigh County property assessment records show that Gilah
Properties LLC of Brooklyn, N.Y., bought the property last month from Auburn
Realty Corp.
A representative from Gilah Properties said this morning
that there are no plans at this time for the property.
The Kislak Co. Inc. of Woodbridge, N.J., represented the
seller and buyer in the deal. Kislak president Robert Holland could not be
reached for comment this morning.
Eastern Union arranged the financing, which was provided
by Investors Bank.
At the time of closing, the property was 100 percent
occupied, according to a news release.
Source: LVB.com
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