Roselle Park Apartments Trade After Brokers Resolve Permit Issue
Roselle Grande, a 119-unit garden-style apartment community located at 220-250 W. Sumner Ave. in Roselle Park, NJ, has changed hands for an undisclosed price, in a transaction arranged by SAGE Investment Real Estate Advisors. The firm’s brokerage team of partners and co-founders Steve Tragash and Greg Pine, alongside principal Eli Herskowitz and associate Katie Migner, exclusively represented the seller, Roselle Grande LLC, and procured the unnamed buyer.
During the seller’s deliverables phase, the transaction encountered an unresolved permit issue. Recognizing the importance of a coordinated effort, SAGE spearheaded a resolution for which Tragash and Migner spent nearly a month consulting with and engaging engineering companies to provide the town’s construction department with required documentation.
“Today’s commercial real estate environment requires an engaged and knowledgeable advisor who is willing to step outside the traditional box,” said Tragash.
Built in 1970 and situated on a parcel at the intersection of Roselle Park and Kenilworth, Roselle Grande consists of four buildings with a mix of studio, one-bedroom and two-bedroom layouts. The stabilized property features historically high occupancy rates, on-site parking and dedicated laundry facilities.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout