Goldcrest Properties, a Lakewood, NJ-based commercial real estate firm that purchases and manages multi-family assets, has acquired a newly constructed 172-unit multifamily development in Marietta, PA, for $39 million.
The three-story garden apartment property at 421 W Market Street was built in 2020. The 175,000 s/f development features a clubhouse, fitness center and laundry facilities.
Rosewood Realty Group’s Aaron Jungreis and Michelle Jungreis represented the buyer, Hillel Hertz of Goldcrest Properties and the seller, Jeff Inch of Inch & Co.
“The rental market still has growth potential and identifying hidden gems is one of our strengths,” said Jungreis.
Nestled on the banks of the historic Susquehanna River town, the property was features 12 three-story townhomes as well as 172 one-story apartments for rent.
The property was built on the site of the former York Barbell’s Foundry, which burned down in 1955. Inch & Co. partnered with Burketine Builders to develop the complex, which was completed earlier this year.