PHILLIPSBURG, NJ—Ravenscroft Associates has sold its 76-unit Ravenscroft Apartments, 26 Fairview Ave., Phillipsburg, NJ, for $7.6 million to a private investor who was not identified.
Gebroe-Hammer Associates senior vice president Stephen Tragash exclusively represented the seller and procured the buyer.
“Phillipsburg is the heart and soul of Warren County and a geographic extension of the Easton/Bethlehem/Allentown-PA economic corridor, rendering this vibrant town a great place to invest, live as a tenant, work nearby and relax,” says Tragash, a North Jersey market specialist. “This family-friendly community offers the best of all worlds, from quiet suburban living and access to nearby local, regional and national retailers, to city-center proximity where there are limitless employment, entertainment and cultural opportunities.”
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