Sean Ryan is associate editor of Real Estate New Jersey. (To read more on the multifamily market, click here.)
PLAINFIELD, NJ-In two transactions, buyers have acquired three multifamily apartments with a combined 135 units here for a total of nearly $10.2 million. All three properties are currently 100% occupied.
The three properties are 831 Central Ave., a 21-unit garden apartment complex; Pingry Arms, a 52-unit mid-rise building at 606 Crescent Ave.; and Cornell Arms, a 62-unit complex at 735 Park Ave. The latter two buildings were sold as a single purchase to the same buyer. The buyers and sellers of the properties were not disclosed.
The Livingston, NJ-based Gebroe-Hammer Associates handled all three transactions. GH assistant vice president Steven Tenenbaum and executive vice president Joel Schwartz handled the two-property deal, while Tenenbaum was the sole officer for the single 831 Central sale.
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