ROCHELLE PARK, NJ – Marcus & Millichap hascompleted the sale of Swan Court Apartments, a126-unit garden-style apartment complex in thiscommunity in Bergen County for $15 million.
The sales price equates to a 5.6 cap rate and $119,048 per unit,according to Thomas McConnell, who joined withKevin McCrann of M & M’s New Jersey office torepresent both the seller and the buyer in the transaction.
The brokers noted that interest was intense among both U.S. andforeign buyers, since few such properties come on the market inaffluent Bergen County.
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