SOUTH ORANGE, NJ-An unidentified buyer has acquired Church Street Commons, a 40-unit apartment complex here. The sale price of just under $8.7 million factors out to nearly $217,000 per unit.
The deal was arranged by Joni Sweetwood, a broker with the Woodbridge, NJ-based firm, the Kislak Co. The identity of the seller was not disclosed either. The complex is being converted to condominium residences by its new owner and will be reborn as Village Station East and West, according to Kislak president Jeffrey Wiener.
Located at 17-25 and 26-40 Church St. here, the complex consists of two three-story buildings. Built in 2001, the property is getting some improvements leading to the conversion process, notably new kitchens and baths. The renamed Village Station East and West also reflects the property's location--it's within walking distance of this Essex County town's commuter rail station.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.
