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Kushner Buys 100% Leased Building in Historic Community

MORRISTOWN, NJ-The Florham Park, NJ-based real estate organization paid in excess of $2.7 million from Shelmar Holdings. The building is located at 181 South St., on the corner of South and James Streets.

By Amy Vaughn | Updated on May 23, 2001

MORRISTOWN, NJ-The 1920, five-story apartment building on the corner of James and South Streets has been sold to Kushner Cos., a diversified real estate organization, for in excess of $2.7 million. The 48-unit property is located at 181 South St.

The 48 units are comprised of 27 one-bedroom units, 16 two-bedroom units and five three-bedroom units. The building is 100% leased. The property is located within walking distance of Footes Pond and Ford Avenue municipal parks, as well as Morristown National Park. It is near I-287 and Downtown Morristown.

Kushner’s Richard Stadtmauer, a managing director, says, “This property offers low-maintenance living with an easy commute, high quality schools, plus attractive parks and playgrounds in a country setting.”

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