THE ORBACH GROUP SELLS RESIDENTIAL BUILDINGS FOR $12 MILLION

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HACKENSACK, LITTLE FERRY AND MIDDLESEX, N.J. — New Jersey-based The Orbach Group has sold three New Jersey residential buildings in a $12 million transaction. Totaling 106 rental units, the three buildings are located at 107 Hudson St. in Hackensack, 440 Liberty St. in Little Ferry and 57 Park Brook Gardens in Middlesex. Occupancy was more than 98 percent at the time of closing, and rents range from $800 to $1,250 per month for the studio, one- and two-bedroom units. The buyer was Fort Lee, N.J.-based Lenox Real Estate Partners. Orbach originally acquired the buildings last year as part of a $45 million, 13-building transaction. The remaining buildings in the portfolio will remain under Orbach’s management.

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