(Read more on the multifamily market .)

MATAWAN, NJ-Main Street Village, a six-building, 56-unit garden apartment complex here, has been sold for $6.2 million, which factors out to nearly $111,000 per unit. Situated in northern Monmouth County, the property consists of 40 apartments and 16 townhouses. The seller was Main Street Village Inc., a local group, and buyer was the New York City-based Cammeby’s International Ltd.

“This is an area on the upswing,” says Alan Lieberman, VP of the Livingston-based Gebroe-Hammer Associates, who teamed with G-H SVP Joseph Brecher to represent the seller and bring the buyer to the table. “Now is an excellent time to be involved in its real estate market.

On the legal side, Carl Branciforte of the firm of Cahill, Branciforte & Hoebich of New Brunswick represented the seller. The buyer was represented by Steven Fleissig of Herrick, Feinstein, Newark.

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