(Read more on the multifamily market.)
CLINTON, NJ-Clinton Manor, a four-building brick gardenapartment complex, has traded between two private investors for$5.3 million. For the 50-unit property, the sale price factors outto $106,000 per unit. Located at 101 W. Main St., the complexconsists of 38 one-bedroom and a dozen two-bedroom units, and was97% occupied at the time of sale.
The buyer and seller were not identified by the brokers, salesassociate Steven Follman, SVP Joseph Brecher and sales associateSteve Tragash of the Livingston-based Gebroe-Hammer Associates. Onthe legal side, the seller was represented by Arnold Litt ofHerten, Burstein, Sheridan, Cevasco and Bottinelli of Hackensack.The buyer was represented by Louis Sroka of Jericho, NY.
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