10/6/2008

Kislak directs $12M sale of Allentown apartments

by Eric Ramsden

Wynnewood Greens

Wynnewood Real Estate, LP, has purchased the Wynnewood Greens Apartments in Allentown, Pa., for $12.07 million from Hicksville, Long Island-based Camelot Partners.

Robert Holland of Woodbridge, N.J.-based The Kislak Co., Inc., brokered the transaction on behalf of the seller.

The apartment complex is located at 2415 Allenbrook Dr. #4 and contains 206 units. It has a unit mix of one-, two- and three-bedroom apartments and was 95 percent occupied at the time of sale. The buyer plans to invest in an extensive renovation to the property.

"The buyer of this property has been a Kislak client for many years and owns several complexes in the area," Holland said. "Building and maintaining quality relationships is the key to our 102 years of longevity and success

Address: 2415 Allenbrook Dr. #4, Allentown, Pa.

Size: 206 units

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Filed Under: Multi-Family

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