V.P. Matt Wolf Arranges Sale of 36 Units in Derry Township
Woodbridge, N.J., June 25, 2021 – The Kislak Company, Inc. announced the recent sale of Lehman Street Townhomes, a 36-unit multifamily complex at 1800 Lehman Street in Derry Township, Dauphin County, Pennsylvania, for $4,250,000.
Kislak marketed the property with Vice President Matt Wolf handling the assignment, and he also procured the purchaser. The parties were not disclosed. Mr. Wolf, whose brokerage footprint is large in the area, commented: “Derry Township has always been an attractive market with high barriers to entry. We had four offers close to list price within days of actually listing the property. The purchaser has been a long-standing client, and this is now the third property we sold them.”
Built in 1988 on approximately 1.25 acres of land, the complex consists of three, well-maintained, two-story brick buildings with garden-style townhouses. The apartments consist of 18 two-bedroom and 18 three-bedroom units, most of which were recently renovated with all new electrical and heating systems (electric baseboard), new roofs, new windows, and doors.
Units range in size from 700 to 1,000 square feet depending on whether they are two or three bedrooms with or without an extra half bath. Renovations included new kitchen cabinets, countertops, and appliances. Bathrooms have been outfitted with new sinks, toilets, and shower/tub enclosures, and flooring. Either hardwood flooring or carpeting exist throughout the units.
Amenities include washer/dryer hook-ups, central air-conditioning, private entry, onsite laundry facilities, assigned parking, pet-friendly options, and some paid utilities.
The area is mostly car-dependent yet within a 5–8-minute drive of shopping centers, restaurants, and Hershey Gardens. Other park and recreational attractions lie within a 9–20-minute drive of the complex. Via Routes 422 and 322 there is easy access to major east-west highways such as 76 and 81, with Harrisburg to the west and Allentown and Easton further to the east.
Hershey, the site of the well-known Hershey’s chocolate factory and its affiliated amusement park, are located within the township.
Matt Wolf joined Kislak in 2017 following over a decade of success in the commercial real estate industry focused on multifamily and other investment sales transactions in central and eastern Pennsylvania. In 2020, he earned the firm’s Jay I. Kislak Producer of the Year award after selling over 1,100 residential units valued at nearly $100 million. Mr. Wolf is a Certified Commercial Investment Member and also holds a Pennsylvania broker’s license.
About The Kislak Company, Inc.
The Kislak Company, Inc., which is headquartered in Woodbridge, New Jersey, is a leading commercial real estate brokerage firm consistently recognized for its investment sales success. Established in 1906, Kislak’s market leadership position and longevity are due to its ability to offer clients a personalized, hands-on approach, coupled with the unrivaled expertise of its long-tenured team of professionals. Kislak’s prestigious client base includes individual investors and owners, partnerships, financial institutions, and REITs. The firm’s 35 professionals provide comprehensive market coverage throughout New Jersey, New York, Pennsylvania, and Delaware.
Now in its 115th year, Kislak was among a select group of firms recognized as a 2020 Power Broker by CoStar Group, Inc. and this was the firm’s 15th consecutive recognition.