SPARTA, NJ — SELA Realty Investments, The Fort Lee based real estate investment and management company had announced last week its recent acquisition – a 34 unit complex for 55+ in Sparta.
Tal Steinberg, managing member for SELA said: “We are pleased to add this beautiful building to our portfolio. It was built approx 10 years ago, originally for condominiums, and the builder spared no expense with the level of quality and the amenities. The tenancy is really amazing and it was run smoothly by the previous owner however we are planning to add some activities to the senior community in order to raise resident satisfaction and increase occupancy levels that had been down these past couple of years”
Adam Zweibel and Steve Tragash of Gebroe Hammer represented both the seller and buyer in the transaction.
“Adam and Steve did a great job bringing this deal to my attention and helping me along the way with all the issues we have had” said Tal Steinberg.