4A — January 16 - 29, 2015 — M id A tlantic
Real Estate Journal
M id A tlantic R eal E state J ournal 30,000 s/f colonial-style office property in Newark, NJ TheBergerOrganizationadds 58 Park Place to its portfolio
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Military Park in the heart of downtown Newark, 58 Park Place is 50% occupied by head- quarters operations for the Garden State Ballet and Tem- po Networks, a pan-Caribbean media and entertainment company. Already, Habitat for Humanity, a Military Park Building tenant, is finalizing plans to relocate to the fourth floor of 58 Park. Berger will focus its marketing efforts for the first floor – a former sup- per club – on securing a new restaurant user. “58 Park Place is a natu- ral extension of our Newark portfolio, which is centered on Park Place and Broad St.,” said Miles Berger , chairman and chief executive officer of The Berger Organization. “This neighborhood is our home, and we have watched it transform over the past several years. Projects like Prudential’s new headquar- ters tower and the remaking of Military Park have brought renewed energy to the local business community. Quite simply, this is a great place to be, and we are proud to expand our involvement here.” n Greysteel arranges the sale of Newton St. apartments in Washington, DC WASHINGTON, DC — The Greysteel Company has arranged the sale of Newton Street Apartments, a 17-unit multifamily building located in the Columbia Heights neigh- borhood of Northwest DC. Greysteel’s Mid-Atlantic mul- tifamily investment sales team led by Ari Firoozabadi, W. Kyle Tangney, JohnMullen, Lance Ahmadian, Mike Be- diones, Jake Ying, and Alicia Orkisz served as advisor and agent to Oscar Serafini and Ana Serafini in the successful disposition of Newton Street Apartments to Newton Land Trust. “The property is ideally po- sitioned in Columbia Heights, one of the most dynamic and exciting neighborhoods in the city,” said Greysteel director, W. Kyle Tangney. “The area has seen a surge in residential demand over the past few years from young professionals and families drawn to the close proximity of abundant retail.” Greysteel served as advisor and agent. n
EWARK, NJ — The Berger Organiza- tion added 58 Park
Place to its N e w a r k portfolio in a year - end acqui s i t i on f r om PPSJ Corporation. The 30,000 s/f colonial- style office
J.D. Parker Manhattan
Brian Hosey New Jersey (201) 582-1000 Bryn Merrey Washington, D.C. (202) 536-3700
(212) 430-5100 Brenton Baskin Philadelphia (215) 531-7000
property, which served as the founding headquarters of Feist & Feist Realty Corp. , sits next door to Berger’s Military Park Building at 60 Park Place. Located directly opposite
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58 Park Place
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A CQUISITIONS • D EVELOPMENT • L EASING • M ANAGEMENT • C ONSTRUCTION
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