SHELDON GOOD TO AUCTION SIX N.J. APARTMENT PROPERTIES
PLAINFIELD, N.J. — Later this month, Sheldon Good & Co. will conduct a one-day auction for six multifamily buildings recently entered into Chapter 11 bankruptcy protection. All of the properties are owned and operated by Plainfield-based Connolly Properties. All six properties are located in Plainfield, with three of them situated adjacent to each other on East Front Street. They include Watchung Garden Crossing, a 102-unit property located at 802-837 E. Front St.; Netherwood Village, a 107-unit property located at 825-855 E. Front St.; and Green Brook Village, a 58-unit property located at 733-747 E. Front St. The remaining three properties include Liberty Arms, an 84-unit property located at 501 and 515 W. 7th St.; Central Avenue Apartments, a 20-unit property located at 831 Central Ave.; and Madison Avenue Apartments, a 39-unit building located at 609 Madison Ave. The auction will be held on June 24. The properties will be sold separately and absolute, subject to court approval, with suggested opening bids ranging from $350,000 to $2.5 million.