Gebroe-Hammer Associates arranges $35.25M sale of Chatham Village Apartments in transaction
CHATHAM TWP., NJ — In Northern New Jersey’s extremely supply-constrained Short Hills Region multi-family investment submarket, Gebroe-Hammer Associates has orchestrated the $35.25M sale of 118 apartment-home units at Chatham Village Apartments in Chatham Twp. The firm’s three executive vice presidents Niko Nicolaou and David Jarvis, along with Morris County market specialist Stephen Tragash, represented the seller, Madison Hill Properties, and procured the buyer, Stolar Capital in partnership with Vertical Realty and EverWest Real Estate Investors, LLC. Built in 1955, Chatham Village is nestled within a high-appreciating, architecturally distinct tree-lined residential neighborhood. The well-maintained, classic garden-style community features 118 apartment homes, of which 40 are spacious one-bedroom and 78 are two-bedroom layouts – the most in-demand layout for the surrounding apartment submarket. The Downtown Business District is nearby.