NOT LISTED FOR SALE

16 Centre Square Easton, PA 18042

Downtown Easton Neighborhood

Estimated Value: $10,122,497

Studio
-- Bath
31,000 Sq Ft
$327/Sq Ft Est. Value

Last Sold January 14, 2022

Last sale price $7,450,000 $240 Per Sq Ft

Est. 36% increase in value since last sale

Current estimated payment $53,593/month

274 Days on Market

Highlights

  • 0.18 Acre Lot
  • Heating Available
  • 5-minute walk to Scott Park
  • Central Air

About This Home

As of January 2022

Rare, downtown investment opportunity located in the Center of Downtown Easton. This former office building has been totally gutted and converted into ultra high end apartments with custom kitchen, first class appliances, and a gym in the building. The property also has a 6,400 square foot retail space and a large unfinished lower level which used the be the former bank's board room. This trophy location has been extremely popular for renters and there is rarely a vacancy.

Last Agent to Sell the Property

Garrett Benner

Boutique One Properties LLC Listed on: 11/10/2020

Last Buyer's Agent

Lee Ann Maciujec

Coldwell Banker Hearthside

Coldwell Banker Hearthside

Property Details

Home Type

  • Apartment

Est. Annual Taxes

  • $47,547

Year Built

  • Built in 1900

Lot Details

  • 7,800 Sq Ft Lot

Parking

  • Off-Site Parking

Home Design

  • 31,000 Sq Ft Home
  • Brick Exterior Construction

Utilities

  • Central Air
  • Heating Available

Listing and Financial Details

  • Assessor Parcel Number L9SE2B 5 11 0310

Community Details

Overview

  • 28 Units
  • 5-Story Property

Building Details

  • Electric Expense $33,841
  • Insurance Expense $15,000
  • Maintenance Expense $10,000
  • Manager Expense $19,445
  • Other Expense $11,334
  • Trash Expense $1,984
  • Water Sewer Expense $8,870
  • Operating Expense $121,858
  • Gross Income $648,185
  • Net Operating Income $492,686

Property Details

Home Type

Apartment

Est. Annual Taxes

$47,547

Year Built

Built in 1900

Lot Details

7,800 Sq Ft Lot

Listing Details

  • Property Type: Investment Property
  • Property Sub Type: Investment Property
  • Property Sub Type Category: Apartment Style
  • County Assessment: 459700.00
  • Stories: 5.0
  • V O W Automated Valuation Dis: Yes
  • V O W Consumer Comment: Yes
  • Year Built: 1900
  • Special Features: None

Interior Features

  • Bathrooms: Modern
  • Square Footage: 31000

Exterior Features

  • Construction: Brick

Garage/Parking

  • Parking: Off Site

Utilities

  • Cooling: Central AC
  • Heat Type: Electric
  • Sewer: Public
  • Water: Public
  • Electric: 33841
  • Gas: 3230
  • Insurance: 15000
  • Trash Removal: 1984
  • Water Sewer: 8870

Condo/Co-op/Association

  • Lawn Snow Removal: 700
  • Maintenance Repair: 10000
  • Management: 19445

Fee Information

  • Operating Expense: 121858

Lot Info

  • Acres: 0.179
  • Lot Sq Ft: 7800
  • Zoning Code: B-RT-BUSINESS/REGIONAL TRADE

Rental Info

  • Other Expenses: 11334

Tax Info

  • Assessor Parcel Number: L9SE2B 5 11 0310
  • County Taxes: 5424.46
  • Municipal Taxes: 11469.52
  • Total Taxes: 47546.78

Multi Family

  • School Taxes: 30652.80
  • Total Units: 28

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Nov 10, 2020
Closed on
Jan 14, 2022
Sold by
One 6 Llc
Bought by
Easton Kirso Llc
Seller's Agent
Garrett Benner
Boutique One Properties LLC
Buyer's Agent
Lee Ann Maciujec
Coldwell Banker Hearthside
List Price
$8,490,000
Sold Price
$7,450,000
Premium/Discount to List
-$1,040,000
-12.25%
Current Estimated Value
$10,122,497

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$2,672,497
Avg. Annual Appreciation
8.22%

Purchase Details

Listed on
Dec 11, 2014
Closed on
Apr 15, 2015
Sold by
Nk Investments Llp
Bought by
One 6 Llc
Seller's Agent
Charalambos Papageorgiou
Emerald Realty Group
Buyer's Agent
Garrett Benner
Boutique One Properties LLC
List Price
$1,895,000
Sold Price
$1,650,000
Premium/Discount to List
-$245,000
-12.93%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
24.98%
Original Mortgage
$1,650,000
Interest Rate
3.86%
Mortgage Type
Commercial

Purchase Details

Closed on
Apr 18, 2002
Sold by
Rw Investments L P
Bought by
Nk Investments Llp

Purchase Details

Closed on
Feb 1, 1999
Bought by
Rw Investments L P
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Easton Kirso Llc $7,450,000 Parkland Abstract Corp
One 6 Llc $1,650,000 None Available
Nk Investments Llp $1,100,000 --
Rw Investments L P $525,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner One 6 Llc $1,650,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
01/14/2022 01/14/22 Sold $7,450,000 -6.8% $240 / Sq Ft
08/11/2021 08/11/21 Pending -- -- --
02/18/2021 02/18/21 Price Changed $7,990,000 -3.0% $258 / Sq Ft
12/04/2020 12/04/20 Price Changed $8,240,000 +898.9% $266 / Sq Ft
12/04/2020 12/04/20 Price Changed $824,900 -90.3% $27 / Sq Ft
11/10/2020 11/10/20 For Sale $8,490,000 +414.5% $274 / Sq Ft
04/15/2015 04/15/15 Sold $1,650,000 -12.9% $45 / Sq Ft View Prior Sale
01/08/2015 01/08/15 Pending -- -- --
12/11/2014 12/11/14 For Sale $1,895,000 -- $51 / Sq Ft
Source: Greater Lehigh Valley REALTORS®

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2026 $11,092 $1,027,000 $51,200 $975,800
2025 $10,179 $942,500 $51,200 $891,300
2024 $89,019 $858,100 $51,200 $806,900
2023 $80,253 $773,600 $51,200 $722,400
2022 $70,595 $689,200 $51,200 $638,000
2021 $46,958 $459,700 $99,900 $359,800
2020 $44,904 $439,800 $99,900 $339,900
2019 $42,374 $420,000 $99,900 $320,100
2018 $39,784 $400,000 $99,900 $300,100
2017 $39,000 $400,000 $99,900 $300,100
2016 -- $400,000 $99,900 $300,100
2015 -- $400,000 $99,900 $300,100
2014 -- $400,000 $99,900 $300,100
Source: Public Records

Agents Affiliated with this Home

  • Garrett Benner

    Seller's Agent in 2022

    Garrett Benner

    Boutique One Properties LLC

    (484) 892-0806

    2 in this area

    7 Total Sales

    Garrett Benner
    Section Image
  • Lee Ann Maciujec

    Buyer's Agent in 2022

    Lee Ann Maciujec

    Coldwell Banker Hearthside

    (610) 766-7200

    1 in this area

    59 Total Sales

    Lee Ann Maciujec
    Section Image

  • C

    Seller's Agent in 2015

    Charalambos Papageorgiou

    Emerald Realty Group

See All Agents

Map

Source: Greater Lehigh Valley REALTORS®

MLS Number: 654057

Greater Lehigh Valley REALTORS®

APN: L9SE2B-5-11-0310

Pennsylvania Northampton County Easton 18042 Downtown Easton

16 Centre Square, Easton, PA

Not Listed for Sale

MultiFamily

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