Professional Documents
Culture Documents
The Saint Lawrence Hall - 3400 Saint Lawrence Rd., Reading, PA 19606
Property Type: Special Purpose Price: $135,000 http://listing.loopnet.com/16053339
Special Purpose (Other) Price/SF: $12.86/SF
Building Size: 10,500 SF LoopNet ID: 16053339
Status: Active
Property Description:
Large open spaces thorough out this property, first floor with open ceiling heights of over 20' with clear span. Great for meetings, possible loft apartment
conversion. Building consists of two parts. The first section is a former church built in the late 1800's and includes a large sanctuary on the first floor and
two large rooms below once used as the kitchen and most recently used as living space. The second building section, Three stories tall, was built in 1924
as an add on to the sanctuary and used as the Boro community Center for many years. Most recently, the lower level of this building housed a dinner
theater. There is also an old two lane bowling alley in the basement level.
Reading Outlet Center Building #10 - 702 North 8th Street, Reading, PA 19604
Property Type: Multifamily Price: $1,249,000 http://listing.loopnet.com/15512001
Mid/High-Rise Price/Unit: $15,613
No. Units: 80 LoopNet ID: 15512001
Building Size: 120,000 SF Status: Active
Year Built: 1906
Property Description:
NOW A KEYSTONE OPPORTUNITY ZONE - NO TAXES THROUGH 2020!!! 120,000 Square foot heavy timber building surrounding two courtyards.
20,000 square feet per floor with 6 floors. One passenger elevator and one freight elevator, four loading docks. Building was last used at part of the
Reading Outlet Center. Building has a new $200,000 roof and roof deck installed but suffered some interior damage due to leakage. Nice floorplans,
great views, lots of original wood flooring. Phase I and Phase II environmentals are done. Some preliminary floorplans are done for 100 apartments and
20,000 square feet of retail space. SERIOUS REDEVELOPMENT INQUIRIES ONLY!! Property needs complete renovation/restoration. Rentometer
places potential rents as high as $1198 (rentometer.com) per unit even though attached projections and cash flows are only at about $725 per month.
That means the Net Income could be about $300,000 higher than included projections!! Building can qualify for a 39% New Market Tax Credit and either
a 10% or 20% Historic Tax Credit, and/or PHFA financing!! Owner just finished appealing taxes from $94,000 down to $450 PER YEAR!
Reading Outlet Center Building #1 - 801 North 9th Street, Reading, PA 19604
Property Type: Multifamily Price: $1,795,000 http://listing.loopnet.com/15511579
Mid/High-Rise Price/Unit: $17,950
No. Units: 100 Cap Rate: 12.00%
Building Size: 320,000 SF LoopNet ID: 15511579
Year Built: 1904 Status: Active
Property Description:
NOW A KEYSTONE OPPORTUNITY ZONE - NO TAXES THROUGH 2020!!! 90% NON-RECOURSE financing available through HUD 221d4
program can be used with a 20% HISTORIC TAX CREDIT for a TOTAL OF 110% FINANCING!!! Former Reading Outlet Center Building #1 totaling
320,000 square feet on 2.4 acres, an entire city block!! All heavy timber construction in need of complete restoration/renovation. Property is zoned
high density residential/retail outlet. This property can qualify for Historic Tax Credits, New Market Tax Credits, and most PHFA financing. SERIOUS
REDEVELOPERS ONLY!!! See attached proposed construction budget and income/expense numbers!!