Real Estate Journal — Pennsylvania — July 14 - 27, 2017 — 5C
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M id A tlantic
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Valued at approximately $5.4 million dollars Wolf of High Associates closes sale of 74 units in the Centre Park historic district of Reading R
eading, PA — Mat- thew Wolf , an estab- lished commercial real estate broker for High As- sociates , recently announced the sale of 74 units in the Centre Park historic district of Reading, valued at $5.4 million dollars. The apart- ment buildings included Silk Mill Apartments (42 units) and Elm View Apartments (32 units). Silk Mill Apartments sold for $3.45 million. Originally constructed as a Silk Mill in 1900, it was converted into an apartment complex in 1981. Since then, ongoing renova- tions have transformed Silk Mill into the epitome of up- scale living. With twenty-four one-bedroom and eighteen two-bedroom apartments, the first two floors of Silk Mill con- tain flats while the third floor is comprised of lofts, vaulted ceilings, spiral staircases, large windows and washers and dryers. The most recent renovation has been the instal- lation of a brand new roof in June of 2016. Current tenants also enjoy amenities such as a gated parking lot, elevator ac- cess, and extra storage space. Elm View Apartments sold for $1.9 million. Built in 1930 and renovated in 1995, Elm View is comprised of sixteen one bedroom and sixteen two bedroom units. The four-story complex features an on-site laundry facility, off-street parking and convenient el- evator access. One bedroom efficiencies generate $700 to $775 in rental income and two- bedroom units bring the prop- erty owner anywhere from $800 to $875 per month. n Revene o f NAI Comm’l. Partners inks $55mwhse sale
Silk Mill Apartments
Elm View Apartments
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Carlisle, PA — Eric Revene of NAI Commercial Partners, Inc. recently repre- sented United Parcel Service (UPS) on the purchase of a 595,000 s/f class A bulk ware- house facility for $55 million. The property, 1 Ames Dr., was formerly owned by Dermody Properties. n 1 Ames Dr.
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