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Miami-based apartment investor Lloyd Jones LLC bought the property at $270,000 a unit.

Buyer Hotusa Group oversees tourism and hotel companies including the Eurostars chain, the existing brand on the downtown hotel.

JMF Properties recently staged a ribbon cutting for the 212-unit development at 1400 South Ave., located between the Netherwood and Fanwood train stations on the Raritan Valley train line.

Purchased in 1992 by a private investment group, the building is currently listed on the National Register of Historic Places and has operated as a boutique hotel and short-term rental for more than 90 years.

Contract activity has increased 16% year-over-year in the borough that has seen great migration of buyers into East and South Brooklyn.

Anderson, one of GlobeSt.com's people to watch, encourages young professionals to learn about the data and services that are available to them, noting "It could make or break their careers."

Featuring 156 one-, two-, three- and four-bedroom apartment homes, Mt. Baker Village Apartments located at 2900 McClellan St. in the Mt. Baker neighborhood was built in 1957 as garden-style market-rate apartments.

The company has acquired 16 properties totaling $1.1 billion in total value on the Western US.