The all-cash transaction was arranged by Vito DeGennaro, sales director for the real estate firm Gerber/Somma of Hackensack. Legal details were handled for the acquisition group by attorney Albert Buzzetti of Englewood Cliffs and for the seller by local attorney Marvin Beaman.
The four-building, two-story complex sits on a four-acre site at 160 Ocean Ave. The site is adjacent to Pier Village, a major redevelopment in this oceanfront city that will include a combination of retail, restaurant, entertainment and other uses.
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