DeGennaro of Gerber/Somma Associates closes 24 unit apartment complex sale in Asbury Park, NJ

April 25, 2016

 Asbury Park, NJ — Gerber/Somma Associates Inc. announced that Vito DeGennaro, VP-CIO has sold the 24 unit apartment complex located at 211 1st Ave. Asbury Park. 
Located two blocks from the Ocean, the property consists of 24 apartments which include studio, one-bedroom and two-bedroom units. Balconies with Atlantic Ocean views and onsite parking are included. 
The property is located in the upcoming area of Asbury Park, just two blocks from the Boardwalk and where several new developments have taken off! DeGennaro stated that the buyer who is new to Gerber/Somma Associates Inc., proved to be a closer. He was represented by Craig Spector Esq. of Ridgewood, NJ. The seller, a longtime owner from Lakewood NJ, was represented by Richard Kelin Esq. of Livingston NJ. 

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