223 Residential Co-op Units Sell for $17M

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EAST WINDSOR, NJ-A total of 223 residential units have been sold as co-ops for a price tag of $16.5 million, or about $74,000 a unit. The sold units represent just under half of the total unit count of the 470-apartment Orchards garden complex here. The property in located in the Princeton corridor.

According to Robert Ploshnick, a managing director of Gebroe-Hammer Associates, the transaction was arranged by the Livingston-based firm’s executive vice president Joel Schwartz and senior vice president Joseph Brecher. “Financing for the sale was complex and required hands-on attention to detail,” Ploshnick says.