The transaction was arranged by Gerber/Somma Associates, a Hackensack, NJ-based real estate services firm. In what the firm's Harold Gerber calls "an intricate transaction," the deal called for the buyer, Malik & Son LLC, to get the lender's approval to assume the present first mortgage. The latter contained a complicated assumption provision, according to Gerber.
The seller, who was not identified, was represented legally by attorneys Fred Hardt and Pamela Moy of Moorestown, NJ. Attorney Paul Stein of Hackensack, NJ represented buyer Malik & Son.
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