Gebroe-Hammer Associates Arranges $23.5M Sale of Carriage Club Apartments in Mount Arlington, N.J.
ARLINGTON, N.J. — Gebroe-Hammer Associates has arranged the $23.5 million sale of The Carriage Club, a 106-unit multifamily property located at 1 Hillside Dr. in Mt. Arlington. Gebroe-Hammer’s Adam Zweibel and Stephen Tragash secured the seller, Carriage Club Associates LLC, and procured the unnamed buyer, a private investment group, in the transaction. Built in 2003, Carriage Club is a Class A, 55-and-over apartment community offering one- and two-bedroom units, the latter of which offer a choice of one or two baths. Carriage Club was 98 percent occupied at the time of sale. The complex offers access to I-80, I-287 and the Garden State Parkway, and is within walking distance to NJ Transit service at Mount Arlington Station. Community amenities include a clubhouse with a heated indoor pool, billiards room, fitness center, golf putting green, outdoor sundecks and a grill and picnic area.