Warren and Middlesex County ,NJ —NAI DiLeo-Bram & Co., recently announced that David Simon, SIOR, chief operating officer arranged the sale of Evergreen Village Apartments located in Alpha, NJ. The seller was represented in the transaction by Jerry Zaro and Jeffrey Meltzer of the law firm of Sills Cummis & Gross P.C.
“There was tremendous interest in this property demonstrating the demand that continues to exist for fully stabilized, well managed, multi-family properties in New Jersey,” said Simon. “The meticulously maintained property has been owned and managed by the seller for several decades which made Evergreen Village extremely attractive to investors. The buyer was familiar with the property and its location, and felt that Evergreen Village was accretive to its existing multi-family portfolio,” added Simon.
Evergreen Village is comprised of 98, one- two- and three-bedroom units located in seven two-story buildings in Warren County, NJ. Evergreen Village offers a bucolic campus setting and is less than four miles from Rte. 78. The borough of Alpha is situated on the border of New Jersey and Pennsylvania. The spacious units each have a private storage area in the basement.
In Woodbridge, NAI DiLeo-Bram & Co., recently announced that the firm completed the sale of The Village at Falcon Point, a newly constructed, 56 unit, multi-family property located in the Port Reading neighborhood of Woodbridge. The NAI DiLeo-Bram team of David Simon along with associates Robert V. DiLeo, Matthew DiLeo and Kyle Gerace represented the seller, Falcon Partners, LLC, in this transaction.
“The developers built this property with the intention of holding it for many years. Their attention to every detail and hands-on management approach enabled them to fully stabilize the property quickly in a competitive market during an unforeseen global health crisis. The buyer recognized the quality of this unique property and was excited to add it into its existing portfolio,” stated Simon.