LAKEWOOD, NJ–Two apartment buildings have changed hands in Lakewood Township for a total of $38.25 million, GlobeSt.com has EXCLUSIVELY learned from the broker, Gebroe-Hammer Associates.

Joseph Brecher represented the sellers of The Crest at Washington Square and Shenandoah Village in separate transactions. He found the buyer for The Crest, which has an adjacent retail/office building, who paid $26 million. Debbie Pomerantz procured the buyer for Shenandoah Village, which sold for $12.25 million. Neither buyer's identity was disclosed.

Brecher says Lakewood has long since outgrown its onetime image as a “small and scenic” community near the Jersey Shore. “Lakewood has emerged as a hub for large and small businesses – home to the second largest industrial park in the state – as well as its parks, lakes and quaint Victorian downtown section,” said Brecher.

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