(To read more on the multifamily market, click here.)
EDGEWATER, NJ-The majority of units at the Park House, a luxurycondo project at 1100 River Rd. here, have been placed on themarket to sell as a single unit. In total the property has 24units, three of which have been sold and one is currently undercontract. According to spokeswoman for Eastern Consolidated, whichis marketing the property, the portfolio is expected to sell formore than $7 million.
The Park House is a five-story, 24,229-sf building. Of the 20units in the sale package, eight are in the middle of a one-yearlease, with an option for renewal, while 12 are completely vacant.Individually on the market the condos are selling for more than$500 per sf, according to the spokeswoman.
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