[ad_1]
BETHLEHEM, Pennsylvania _ Aiden Henninger, 24, a lifelong Bethlehem resident, has purchased 546 Main Street in historic downtown Bethlehem for $1 million. The four-story building houses Mamanina’s Italian restaurant and her three two-bedroom apartments on the upper floors. The restaurant will remain, and Henninger plans to renovate the apartments and rent them out.
The property acquisition was announced by Jeff Barber of Lehigh Financial Group LLC in Allentown, who arranged traditional financing for the sale and renovation. Henninger also has a business partner.
Henninger, a graduate of Lehigh University, has been investing in Bethlehem real estate for the past three years, buying and renovating several homes, reselling some and renting out some.
Henninger is excited to own 546 Main Street, which was built in 1880. Because it is in the heart of the most desirable historical Bethlehem. Henninger is excited to own the property because properties in this coveted area of Main Street are rarely available, he said. The sale was held privately.
“In my three years as a real estate investor, I’ve already done a lot of deals,” Henninger said. “But this is my biggest deal to date. And I’m excited to add it to my portfolio.”
Mr. Barber was impressed by Mr. Henninger’s business acumen at a young age and is looking forward to his future success.
The building is just under 5,000 square feet. The restaurant is located on the first and second basement floors. The second floor is one apartment, and the third and fourth floors are divided into two two-story apartments. Henninger plans to upgrade the apartments to luxury apartments with new paint, tiling, flooring, lighting and appliances. He expects it will take several months.
Henninger also said that when Mama Nina’s opened on Bethlehem’s Main Street about 20 years ago, it marked the beginning of a renaissance in the historic downtown. “It changed the local restaurant scene,” he said.
Information provided to TVL by Beth Orenstein on behalf of:
Lehigh Financial Group LLC
122 North 5 Street
Allentown PA 18102
http://www.lehighfinancialgroup.com/
[ad_2]
Source link
