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BETHLEHEM, PA: After years of planning and construction, buyers have finally settled in to what is arguably the hippest address in the Lehigh Valley real estate market: 11 W. Second St. in Bethlehem, PA, also known as Riverport. Formerly a machine shop for Bethlehem Steel, this waterfront building located behind the Banana Factory has 172 loft-like condominiums plus a fitness center and restaurant. Prices on one-bedroom units started in the low $200s, making the building accessible to younger and single buyers.
Only 26 units are still available, according to Sarah Stauffer, a Realtor and real estate agent with Kurfiss Sotheby’s International Realty in Bethlehem. Kurfiss sold 61 units -- two-thirds of them to investors. "There is a mix of one- and two-bedroom units still available priced from the mid 200s to low 600s," said Stauffer.
Based on the Riverport transactions handled by Kurfiss, the median age of buyers is 36, meaning half of all buyers are older than 36 and half are younger. Only 3% of buyers were from outside the Lehigh Valley. The transactions represented more than $13 million in business for Kurfiss agents in Bethlehem, a record for the office.
Kurfiss Sotheby’s International Realty is a privately owned real-estate firm with headquarters in New Hope, Pa., and additional offices in Ardmore, Bethlehem, Doylestown and Springtown, Pa. Its agents serve the greater Lehigh Valley, Bucks County, Philadelphia Main Line and western New Jersey areas.
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