ORANGE, NJ — McGee Ryan Assets (MR Assets) continues to see upside in The city of Orange housing market, announcing its latest purchase of a 12-unit multifamily property at 300 Watchung Ave.
MR Assets paid $1.32 million for the 8,000 s/f corner property near Llewellyn Park. Joni Sweetwood of The Kislak Company represented the seller, a private investor.
“MR Assets is honored to serve the people of Orange by providing a quality housing experience for all of its residents. Orange is changing every day for the better, and I envision my firm to be at the forefront of this renaissance. 300 Watchung Ave. is a well-maintained property at the heart of this revival and we are thrilled to add it to our portfolio,” said Alexander McGee, founder and CEO of McGee Ryan Assets.
The City of Orange Township last year released a Master Plan that includes seven major elements to harness the city’s growth over the next decade. Its strategic vision sets out to improve transportation, economic development, the arts and housing. New mid- and high-rise development has already been completed in the vicinity of the Orange Train Station at Tony Galento Plaza and several other large-scale projects planned for the area.