ORANGE, NJ-In separate transactions, four apartment complexes totaling 115 units have been sold for a combined $7 million. The properties are located in East Orange and Orange, NJ.
The four sales were all brokered by Gebroe-Hammer Associates, based here. The buyers and sellers were all local investment groups, which were not identified.
The two East Orange properties include 150 S. Harrison St., a 42-unit mid-rise building that is currently 85% occupied. The seller was represented by G-H executive vice president David Oropeza, the buyer by G-H assistant vice president Steven Tenenbaum. The second East Orange property is the 18-unit, three-building 64 E. Park St., with Oropeza representing the seller. The latter had held the property for more than 30 years.The two Orange properties include the 21-unit 509 Fairview Ave., with Oropeza and G-H vice president David Jarvis representing the seller and G-H senior vice president Joseph Brecher representing the buyer. The final transaction involved 449 Mountainview Ave., a 34-unit elevator mid-rise, with Oropeza and Brecher representing the seller and G-H vice president Alan Lieberman representing the buyer.
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