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LIVINGSTON, NJ-Four North Jersey apartment complexes totaling 187 units have sold for $15 million, or approximately $80,000 per unit. The properties include three in Bloomfield, 11 Park Place, a four-story mid-rise with 39 apartment units; the five-story 55 Monroe Place with 65 units; and 64 Park Ave., a five-story elevator building with 56 apartments. The fourth, in Verona, is a two-story garden complex with 27 apartments at 411 Bloomfield Ave.

The portfolio sale was arranged by Kenneth Uranowitz, managing director of Gebroe-Hammer Associates, based here. The deal involves four properties that were all originally sold 50 years ago to the parents of the present owners and sellers by Mel Gebroe, G-H co-founder and CEO.

Neither the seller nor the buyer was identified. According to Uranowitz, both the buyer and the seller utilized the transaction for 1031 tax exchange purposes and financing involved cash over a new first mortgage. Gebroe also announced that the company’s total sales for 2005 through September amounted to more than half a billion dollars, an amount that exceeds last year’s 12-month volume.

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