METUCHEN, NJ—Hackensack-based Alfred Sanzari Enterprises has bolstered its residential portfolio with the acquisition of Greenway Village, a newly constructed 49-unit apartment complex in Metuchen, NJ.
The purchase in the Middlesex County community expands the company's reach with a new presence in one of the premier submarkets in New Jersey. Lauren Rose Federgreen of Rose Real Estate represented both the buyer and sellers, Greenway Village and Aros Investments, in the transaction. This is the fourteenth transaction Rose Real Estate has closed since opening its doors in February 2015.
“This asset is an exciting addition to our multifamily portfolio,” says Ryan Sanzari, Alfred Sanzari Enterprises' chief operating officer. “We are a developer, owner and manager, and retain our real estate holdings for the long term. Greenway represented a unique opportunity to acquire a brand-new asset strategically located in an area where multifamily housing is in high demand. The combination of amenities has proven to be extremely attractive to renters in this marketplace.”
Built in 2016, Greenway is nearing full occupancy. The complex features one-bedroom apartments with nine-foot ceilings, recessed lighting, hardwood flooring and decorative crown molding. Kitchens and bathrooms boast high-end granite countertops, stainless-steel appliances and ceramic tile. Each residence also includes a washer/dryer, walk-in closets and individually controlled heat and air conditioning, and residents benefit from ample on-site parking.
The property is within walking distance of NJ Transit's Metuchen train station, providing direct service to New York City's Penn Station on the Northeast Corridor Line. It is also just minutes away from the Metropark Amtrak Station in Iselin. At the same time, residents have access to local NJ Transit bus service within the borough.
METUCHEN, NJ—Hackensack-based Alfred Sanzari Enterprises has bolstered its residential portfolio with the acquisition of Greenway Village, a newly constructed 49-unit apartment complex in Metuchen, NJ.
The purchase in the Middlesex County community expands the company's reach with a new presence in one of the premier submarkets in New Jersey. Lauren Rose Federgreen of Rose Real Estate represented both the buyer and sellers, Greenway Village and Aros Investments, in the transaction. This is the fourteenth transaction Rose Real Estate has closed since opening its doors in February 2015.
“This asset is an exciting addition to our multifamily portfolio,” says Ryan Sanzari, Alfred Sanzari Enterprises' chief operating officer. “We are a developer, owner and manager, and retain our real estate holdings for the long term. Greenway represented a unique opportunity to acquire a brand-new asset strategically located in an area where multifamily housing is in high demand. The combination of amenities has proven to be extremely attractive to renters in this marketplace.”
Built in 2016, Greenway is nearing full occupancy. The complex features one-bedroom apartments with nine-foot ceilings, recessed lighting, hardwood flooring and decorative crown molding. Kitchens and bathrooms boast high-end granite countertops, stainless-steel appliances and ceramic tile. Each residence also includes a washer/dryer, walk-in closets and individually controlled heat and air conditioning, and residents benefit from ample on-site parking.
The property is within walking distance of NJ Transit's Metuchen train station, providing direct service to
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
