Thursday, October 4, 2012

The Waterfront in Allentown Sells for $4.9M

The Waterfront, 26 acres of redevelopment land located at 1 W. Allen St. in Allentown, PA sold for $4.9 million, or about $188,000 per acre. 

The land consists of 7 lots on the western bank of the Lehigh River. Currently zoned I-3, the land has industrial buildings which are set to be demolished. Future plans for the riverside development include office, residential, retail, restaurant and hotel properties. 

Dunn Twiggar Company LLC, Michael Dunn Company, Ltd. and Jaindl Properties purchased the land from LSS Realty Corporation.

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