(Read more on the multifamily market.)
LIVINGSTON, NJ-A portfolio of two apartment complexes totaling 192 units in two different cities has been sold for $22.25 million. The properties sold for a combined average of nearly $116,000 per unit.
The transaction was arranged by brokers from Gebroe-Hammer Associates, based here. The firm's Stephen Tragash represented the seller, identified only as “a Morristown attorney,” and Dustin Steiner brought the buyer, a local investment group, to the deal. Attorney Richard S. Kelin of Feinstein, Raiss, Kelin and Booker of West Orange represented the buyer on the legal end.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
