BETHLEHEM, PA (November 26, 2019) –ALT Realty of Bethlehem, Pennsylvania, recently represented the seller of 736 N. Jordan Street in Allentown, Pennsylvania. The property has 11 rental units and is a total of 5,760 square feet. The property was purchased for $750,000 in a 1031 Exchange.
The term 1031 Exchange, defined under section 1031 of the IRS Code, is a strategy that allows an investor to defer paying capital gains taxes on an investment property when it is sold, as long as another “like-kind property” is purchased with the profit gained by the sale of the first property.
“A 1301 Exchange is a timed process and difficult to fulfill,” said Alt Realty’s Lisa Meszler Lyon, Commercial Specialist. “The buyer’s broker contacted me to help locate a property for a 1031 Exchange after another property under agreement for the trade fell through. There were no properties on the open market at the time to fulfill the 1031 need, but I was able to connect the buyer with this off-market property on Jordan Street.”
The property at 736 N. Jordan Street also has mailing addresses of 390-392 Green Street and 735 N. Elliger Street.
About ALT Realty
ALT Realty is a full-service Real Estate brokerage company designed to accommodate a magnitude of client requirements. ALT Realty offers valuable real estate services and advisement for all aspects of the real estate business. ALT Realty has experience in commercial, office, residential, land development, retail, medical, warehouse, leasing, and sales transactions and will assist clients with tenant and landlord representation, site analysis, construction management and development services. Since its inception in 2011, ALT Realty has grown to become one of the premier boutique real estate brokerage companies in the Lehigh Valley and has closed more than $79 million in sales and completed leasing transactions of more than $136 million in value. ALT Realty clients capitalize on long-standing relationships and market knowledge of the Lehigh Valley, spanning from developers, retailers, local hospitals and other medical service providers, engineers, architects, attorneys, and other brokers. Learn more at: https://alt-realty.net/.