BETHLEHEM, Pennsylvania _ Aiden Henninger, 24, a lifelong resident of Bethlehem, has purchased 546 Main Street in Historic Downtown Bethlehem for $1 million. The 4-story building is home to Mama Nina’s Italian restaurant and has three two-bedroom apartments on its upper floors. The restaurant will remain and Henninger plans to renovate the apartments and lease them.

The real estate acquisition was announced by Jeff Barber of Lehigh Financial Group, LLC, in Allentown, who arranged the conventional financing for the sale and the renovations. Henninger also has a business partner.

A graduate of Lehigh University, Henninger has been investing in real estate in Bethlehem for the last three years and has bought and renovated several homes, some of which he resold and some of which he rents.

Henninger is excited to own 546 Main Street, which was built in 1880, because it is in the heart of most desirable Historic Bethlehem. Henninger said properties in this coveted section of Main Street rarely become available, and he is thrilled to be able to own it. The sale was private.

“I have done a lot of deals already in my three years as a real estate investor,” Henninger said. “But this is my biggest deal yet. And I’m excited to be able to add it to my portfolio.”

Barber was impressed by Henninger’s business savvy at such a young age and is looking forward to what he will do in the future.

The building is a little less than 5,000 square feet. The restaurant occupies the basement and first-floor. The second floor is one apartment, and the third and fourth floors are divided into two, 2-story apartments. Henninger plans to upgrade them into luxury apartments with new paint, tiling, flooring, lighting and appliances. He expects it to take a couple of months.

Henninger also said that when Mama Nina’s opened on Main Street in Bethlehem about 20 years ago, it began the renaissance of the Historic Downtown. “It changed the restaurant scene down there,” he said.

Information provided to TVL by Beth Orenstein on behalf of:
Lehigh Financial Group, LLC
122 North 5th Street
Allentown Pa 18102
http://www.lehighfinancialgroup.com/

 

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