Well-Known Landmark to Bath’s History Gets New Life, Offering Luxury Living
DLP Real Estate Capital, in conjunction with The Greater Bath Area Chamber of Commerce and The Greater Lehigh Valley Chamber of Commerce, will hold a grand opening event for Mary Fashion Apartments, located at 374 W. Main Street, Bath. The event will be held on November 11, 2020 at 5:30 p.m. at which time an official ribbon-cutting ceremony will take place. Mayor Fiorella Mirabito, public officials, Rocco Ayvazov of Monocacy General Contracting, the DLP Real Estate Capital family, and the local community will attend.
The Mary Fashions Apartments building has a well known history throughout the Lehigh Valley. Mayor Mirabito has close ties to it as her relatives, the Fantozzi family, first opened Mary Fashion Manufacturing in 1952. She comments, “The building holds a very special place in my heart. I lived across the street from and pretty much grew up inside it, alongside my family.” Over the years, family members continued to work there, passing ownership along to relatives, including Suns Manufacturing, owned by Jack DiOdoardo. At its height, Mary Fashion employed over 200 people, many that lived in Bath.
Local real estate investor and developer Plamen “Rocco” Ayvazov bought the vacated building in 2019, renovated, and transformed the former factory into 12-unit luxury apartment residences. Ayvazov also
had a personal interest in the building – it was his first employer when he landed in the United States from his home country of Bulgaria in the mid 2000s, working in the production of American flags.
The Mary Fashion Apartments consist of twelve, 1-3 bedroom light and airy luxury loft apartments offering a mixture of style, comfort, and livability with high ceilings, pergo flooring, energy-efficient appliances, gas furnace, and beautifully exposed brick walls. Each unit has its own security system to allow access inside the building, a separate storage unit, and three parking spaces per unit. Units range in size from 638 SF to 1,259 SF and are currently available for rent.
Ayvazov comments, “I have an emotional connection to the building, as well, since that was my first place of employment, here in America. It’s exciting to see the finished property – the new mixed with the old.” He plans to keep the Mary Fashion signage on the building exterior, the large American flag mural, and the “tree of life” – symbolic to the town. He continues, “I have wanted to purchase this building and renovate it for a long time. As a serious real estate investor, I’m grateful to DLP Real Estate Capital for continuing to play such a large role as a lendor, in my business. I’ve partnered with them for many years now, as both an elite lending partner and an investor. Together, we are helping individuals and families by providing housing in the rental community.”
About DLP Real Estate Capital
DLP Real Estate Capital, under the leadership of Founder and CEO Don Wenner, is a leader in the single and multi-family real estate sectors of brokerage, investment management, asset management, property
management, construction, and private lending. DLP RE Capital leads and inspires the building of wealth and prosperity through the execution of innovative real estate solutions. The company generates consistent returns and results for its investors and partners and gives back through its Positive Returns Foundation. The family of companies includes DLP Capital Partners, DLP Lending, DLP Real Estate Management, DLP Realty, Alliance Servicing, and Alliance Property Transfer.
DLP Real Estate Capital has over $1 billion in assets under management, over 500 loans in portfolio, and has closed over 16,000 real estate transactions totaling more than $4 billion. DLP has been ranked in the Inc. 5000 Fastest Growing Companies in the U.S. for eight consecutive years; earned the #3 spot for Americas’ Fastest Growing Companies 2020 in the real estate and property category by Financial Times; and has been named by The Wall Street Journal as one of the top 15 real estate firms in the U.S. for the fifth straight year, including the #1 team in PA and NJ for sales.
Information provided to TVL by:
Greater Lehigh Valley Chamber of Commerce
Manager of Affiliated Chambers (WACC, GNLCC)