(Read more on the multifamily market.)
SOUTH ORANGE, NJ-The Ridgewood Commons apartment building and anadjacent 15,000-sf commercial building have been sold for $12.3million. The seller, a partnership of North Ridgewood AssociatesLLC & North Ridgewood Development LLC, was represented byGebroe-Hammer Associates, which also secured the buyer, RidgewoodCommons LLC.
The Ridgewood Commons building, which is fully occupied,consists of 64 one- and two-bedroom apartments. The new owner plansto renovate the property at 10 North Ridgewood Ave. and addupgrades, including a health club. The adjacent property currentlyhouses a retail tire store.
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