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42 Apartments Trade for $5M

ISELIN, NJ-In separate deals, the properties have changed hands for a combined average of more than $121,000 per unit.

By Eric Peterson | Updated on January 16, 2009

ISELIN, NJ-Two Central New Jersey apartment complexes totaling 42 units have been sold in separate transactions for an aggregate value of $5.1 million. The common thread for the two sales is that they were orchestrated by brokers from the locally based Sitar Co.

“The demand for high-quality multifamily complexes remains healthy,” says Sitar sales associate Ron Schrader Jr. “Demand remains healthy despite the current condition of the economy as a whole.”

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