New Jersey deals surpass $11M

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Two New Jersey apartment communities have sold for a total of $11.3 million to different buyers. In the first deal, Connolly Properties purchased Watchung Gardens from NYC-based PLP Management for $7.5 million. The 102-unit asset, located at 802 E. Front St. in Plainfield, was fully occupied at the time of sale. In the second transaction, Rephman Inc. sold a 40-unit multifamily complex at 801 Lexington Ave. in Lakewood for $3.8 million. A local investor purchased the fully occupied property, which primarily consists of three-bedroom apartments with elevator service. ...