The transaction was arranged by Alan Lieberman, David Jarvis and Avi Oren of Gebroe-Hammer Associates, the Livingston, NJ-based investment real estate sales organization. Both the seller and unnamed buyer are described as "long-time Gebroe-Hammer clients.
Wenonah Gardens LLC has owned the complex since 1998. Configured as five two-and-a-half brick buildings, the property was built back in the mid 1960s. The buyer assumed an existing first mortgage held by a New York savings bank.
The seller was represented by Carl Branciforte of Cahill, Branciforte & Hoebich of New Brunswick, NJ, while the buyer was represented by Lawrence Raiss of Raiss & Kelin, West Orange, NJ.
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