by admin

HIGHLAND PARK, N.J. — Gebroe-Hammer Associates (GHA) has completed the sale of a 46-unit multifamily community in Highland Park for $4.92 million. The two-story complex is located at 481 S. 2nd Ave. It features 26 one-bedroom units and 20 two-bedroom units. A majority of the units have been recently renovated. Occupancy was 95 percent at the time of the sale. The undisclosed buyer plans to complete renovations to the remaining units to bring rents up to market levels. Joseph Brecher of GHA represented the buyer as well as the seller, Lighthouse Highland Park LLC.

You may also like