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Laub Realty Acquires Multifamily Portfolio In Forks Township, PA For $35.6M

2280, 2250, 2265, 2295 Lafayette Park Drive
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This MultiFamily property located in PA was sold for $35,550,000 3 months ago. The brokers of the deal were Bryan Manz, Emil DePasquale, Brandon Harris, and George Pektor

The Sullivan Parke Apartment Complex, located at 2280, 2250, 2265, and 2295 Lafayette Park Drive in Forks Township, PA, has been sold in a recent transaction. Laub Realty has acquired the multifamily property from Ashley Development Corporation and Black Bear Asset Management.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $35,550,000
  • Units: 102
  • Price per Unit: $348,529

The sale price of $35,550,000 includes all four buildings within the Sullivan Parke Apartment Complex. The individual prices for each building are as follows: Building 1 - $8,400,000; Building 2 - $8,400,000; Building 3 - $8,400,000; Building 4 - $10,350,000.

The transaction was facilitated by Bryan Manz, Emil DePasquale, Brandon Harris, and George Pektor from Black Bear Capital Partners, who represented both the buyer, Laub Realty, and the sellers, Ashley Development Corporation and Black Bear Asset Management.

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  • Sale Price
    $35,550,000$35,550,000
    $1,185,000 PPSF$1,185,000 PPSF
  • Area
    30 SF30 SF
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    4 Brokers, 1 Agency4 Brokers, 1 Agency

Agents

George Pektor

George Pektor

Deals23
Financed$255.7M

Agency

Black Bear Capital Partners

Black Bear Capital Partners

Agency
Deals284
Volume$6.2B

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Deal Summary

SALE IMAGE: Emil DePasquale, Brandon Harris & George Pektor DATE: 11/15/2023 ADDRESS: 2280, 2250, 2265, 2295 Lafayette Park Drive MARKET: Forks Township, PA ASSET TYPE: Multifamily BUYER: Laub Realty (@LaubRealty) SELLER: Ashley Development Corporation (@AshleyDevelop) & Black Bear Asset Management BROKERS: Bryan Manz, Emil DePasquale, Brandon Harris & George Pektor - Black Bear Capital Partners (@BlackBearCapitalPartners) SALE PRICE: $35,550,000 UNITS: 102 ~ PPU: $348,529 NOTE FROM BROKER: Sale price is the aggregate of all four (4) buildings at Sullivan Parke Apartment Complex. Building - $8,400,000; Building - $8,400,000; Building - $8,400,000; Building - $10,350,000.

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2280, 2250, 2265, 2295 Lafayette Park Drive

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