Police responded to a report of a street fight and gunfire shortly before midnight Friday.
Reading detectives said 23-year-old Geovanie Collazo-Rosa died at the scene and 51-year-old Efrain Lopez-Collazo was pronounced dead at a local hospital.
A 20-year-old man was taken to a hospital with gunshot wounds. His name has not been released.
Witnesses told the Reading Eagle that they heard more than 10 shots. Police reported a large and unruly crowd as officers arrived at the scene.
Investigators declined comment Saturday on whether any suspects had been arrested.