(Read more on the multifamily market.)
JERSEY CITY-Four single-purpose corporations made up of 14 largeand small investors in the US and overseas now own 107 condominiumresidential units in a half-dozen buildings in this city'srevitalized Journal Square area. The complex deal was put togetherby Amir Yerushalmi, president, and Chen Shoshani, vice president,of Vision Development Group, New York City.
The seller is the condominium sponsor, HROCOR Fair Realty ofAstoria, NY. Financing was provided by Commerce Bank of New Yorkand Commercebank, a separate institution based in South Florida.Attorney Kammerman Associates represented Vision Group in thefour-month due diligence and closing process.
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