City of Reading Committee of the Whole Agenda April 2026
City to Sell 5th & Penn Properties for $5.7M
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Description
The City of Reading plans to sell its 5th & Penn properties at 431, 437, and 443 Penn Street for $5.7 million under an Agreement of Sale with Callowhill Project LP. The deal includes allocations for land, buildings, personal property, and demolition/cleanup, with closing targeted within 45 days of the effective date.
Contract Details
Contract Amount
$5,700,000
Vendor
CITY OF READING
Agency
City of Reading, PA
Contract Type
FACILITIES
Document Date
April 6, 2026
Contract Term
Closing 45 days from Effective Date, with Purchaser’s option for two additional 60-day extensions upon extra deposits
Renewal Info
One-time property disposition; no renewals or extensions of this sale agreement contemplated beyond specified closing extensions.
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