"It is rare that a property of this caliber becomes available for sale in such a high-demand area," Greenberg says. "We're very pleased to have been selected as the exclusive sales agent for the property. Based on the strong demand, this property is expected to attract bids of between $55 million and $60 million."
If the complex does in fact pull in bids in that range, that would put the sale price per unit somewhere in the $150,000 to $165,000 range.
Located at 2 Taylor Ave. here, Colonial Village is hitting the market with a current occupancy of 99%, leaving just four units available. Located within walking distance of schools, the property also has direct access to both Route 1 and the New Jersey Turnpike. Greenberg lists such building features as broadband Internet access, cable and satellite capabilities, hardwood floors and laundry facilities.
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