(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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.