Grammary Court Apartments and The Collowhill Building in Reading have sold for $6.15 million.
The Kislak Co. Inc. of Woodbridge, New Jersey, which marketed the properties, said the sale set a record for the City of Reading.
Grammary Court Apartments is located at 211-221 W. Douglass St. and includes 33 residential units and a daycare facility. The Callowhill Building is located at 153-157 N. 5th S. and includes 17 residential units and four commercial spaces.
Senior Vice President Matt Wolf represented both the buyer and seller, Kislak said.
“This is a new record for per unit pricing in the City of Reading. The purchaser plans to renovate units and make other capital improvements at the properties,” Wolf said.
Grammary Court Apartments consists of a two and one-half story brick building with four studios, 16 one-bedroom units, 13 two-bedroom units and a daycare facility.
Amenities include onsite parking, laundry facilities and ample additional storage, and the property is within walking distance of shops and restaurants. At the time of closing, the property was fully occupied with a waiting list.
The Callowhill Building, located in the central business district, is a four story, wood and stucco building built in 1922, and renovated in 1986. It includes four occupied commercial spaces on the first floor and four studios, 10 one-bedroom units and three two-bedroom units on the second, third and fourth floors.
Amenities include onsite parking, an underground parking garage and laundry facilities, and the property is also within walking distance of shops and restaurants. At the time of closing, the building was also fully occupied with a waiting list, and the commercial tenants have long-term leases.