M id A tlantic Real Estate Journal — Owners, Developers & Managers — July 23 - August 19, 2021 — 15C
www.marej.com
O wners , D evelopers & M anagers
17-unit multi-family package in Jersey City's McGinley Square Neighborhood Matovski of Redwood Realty closes two properties totaling $3.95M in Jersey City, NJ
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Jersey City’s McGinley Square Neighborhood • Synergy of buying a 2-building package • A new record per unit price for the McGinley Square Neighborhood • All units are spacious, newly renovated 2-bedroom apartments “This sale also is a testament to the strong relationships we forge with clients. In this case, we knew what our client wanted, and we were able to move quickly when this list- ing became available,” added Matovski. MAREJ
ERSEY CITY, NJ — Redwood Realty Ad- visors has successfully
c omp l e t e d the sale of two proper- ties in Jer- sey City for a combined price of $3.95 million. Redwo od Realty Advi-
Steve Matovski
sors completed the sale of a two-building, 17-unit multi- family package in Jersey City's McGinley Square Neighbor- hood. The properties are situ- ated within blocks of one another in this thriving neigh- borhood that also is seeing a handful new developments sprouting up. Each building is a short walk to both the JSQ PATH and St. Peter's Univer- sity. Redwood Realty Director Steve Matovski arranged the sale on behalf of a long- time repeat client. “The two properties had received sig- nificant capital expenditures over the last several years. Those improvements helped elevate rents to market, while still giving the purchaser room to make moderate increases and not have to deal with any deferred maintenance issues,” he said. Combined, all of those factors helped drive a record price per unit for the McGin - ley Square Neighborhood at $232,000 per unit. Deal Highlights: • Sought after location in GMH Capital Ptrs. rebrands to GMH Communities NEWTOWN SQUARE, PA — GMH Capital Part- ners (GMH) , the real es- tate investment subsidiary of GMH Associates is now GMH Communities. Resi- dents and investors can still expect the same exceptional service GMH has delivered for the last three decades, just with a new name, look, feel, and expanded focus. Under the GMH Communities umbrella are three verticals representing each of the com - pany’s focus areas: GMH Stu - dent Living, GMH Innovative Living (a new offering), and GMH Residential Living. Recent additions to its grow- ing portfolio include ANOVA uCity Square, The Yards at Malvern, and The Dean Cam- pustown. MAREJ
Redwood Realty Advisors completed the sale of a two-building, 17-unit multi-family package.
Principals Michael J. Acquaro-Mignogna, MAI, AI-GRS Gary E. Heiland II, MAI, AI-GRS
Providing Real Property Valuation and Consulting Services in Pennsylvania, New Jersey and Delaware
Recent Assignments
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Office Locations Wayne, PA (Suburban P hiladelphia) ● York, PA (Central PA) www.mvginc.com
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