PALMYRA, PEMBERTON, AND EWING TOWNSHIP, NJ—Strong investor interest in multifamily properties has extended further south in New Jersey.
Gebroe-Hammer Associates has brokered three apartment-property trades totaling 172 units that sold for a combined $12.68 million. The garden apartment communities are located in Palmyra and Pemberton in Burlington County, and Ewing Township in Mercer County. Buyers and sellers for the properties were not disclosed.
Eli Herskowitz, Gebroe-Hammer sales representative, represented the seller and identified the buyer in the $4.45 million sale of 64 units at Palmyra Arms in Palmyra. Located at 50 W. Broad St., the three-building complex has remodeled one-bedroom layouts with eat-in-kitchens and new appliances, a master bathroom, air conditioning and controlled access.
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