24A — April 23 - May 20, 2021 — Owners, Developers & Managers — M id A tlantic Real Estate Journal


O wners , D evelopers & M anagers

Simon arranges sale of Evergreen Village Apartments located in Alpha, NJ NAI DiLeo-Bram & Co. handles sale of 7-building multi-family property in Warren County, NJ

Bram& Co. , recently an- nounced that Dav i d S i - mon, SIOR , chief operat- i ng o f f i c e r arranged the sale of Ever- green Village W

and its location, and felt that Evergreen Village was accre- tive to its existing multi-family portfolio,” added Simon. Evergreen Village is com- prised of 98, one- two- and three-bedroom units located in seven two-story buildings in Warren County, NJ. Evergreen Village offers a bucolic campus setting and is less than four miles fromRte. 78. The borough of Alpha is situated on the bor- der of New Jersey and Pennsyl- vania. The spacious units each have a private storage area in the basement. In Woodbridge, NAI DiLeo- Bram & Co. , recently an- nounced that the firm com- pleted the sale of The Village at Falcon Point, a newly con- structed, 56 unit, multi-family property located in the Port Reading neighborhood of Wood- bridge. The NAI DiLeo-Bram team of David Simon along with associates Robert V. DiLeo, Matthew DiLeo and Kyle Gerace represented the seller, Falcon Partners, LLC, in this transaction. “The developers built this property with the intention of holding it for many years. Their attention to every detail and hands-on management approach enabled them to fully stabilize the property quickly in a competitive market during an unforeseen global health crisis. The buyer recognized the qual- ity of this unique property and was excited to add it into its ex- isting portfolio,” stated Simon. The developers completed the final building in 2020. The community has a pleasing, townhouse-style aesthetic con- sisting of stone, steel awnings and siding that is consistent with condominium quality construction. The development consists of seven buildings, each containing eight units that all have their own private access, which has been an ideal feature for residents through- out the pandemic. Each unit is a corner and boasts hardwood floors, 9’ ceilings, walk-in clos - ets and full height windows allowing for an abundance of natural light. The Village at Falcon Point is just minutes from downtown Woodbridge, many schools, shopping and dining options. It is convenient to several of the state’s most traveled highways including the Garden State Parkway, the New Jersey Turn- pike I-287 and Routes 1, 9 and 440. MAREJ


Evergreen Village Apartments located in Alpha, NJ

“The meticulously maintained property has been owned and managed by the seller for sev- eral decades which made Ev- ergreen Village extremely at- tractive to investors. The buyer was familiar with the property

& Gross P.C. “There was tremendous inter- est in this property demonstrat- ing the demand that continues to exist for fully stabilized, well managed, multi-family proper- ties in New Jersey,” said Simon.

David Simon

Apartments located in Alpha, NJ. The seller was represented in the transaction by Jerry Zaro and Jeffrey Meltzer of the law firm of Sills Cummis

The Village at Falcon Point

P o s k a n z e r S k o t t A r c h i t e c t s 550 North Maple Avenue, Ridgewood, NJ 07450 201.445.2322 www.poskanzerskott.com

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