10B — June 10 - 23, 2016 — Northern New Jersey — M id A tlantic
Real Estate Journal
www.marejournal.com
N orthern N ew J ersey Achieving a record $135,833 per unit
Redwood Realty Advisors’ $4.075 million West New York apartment sale sets record price
announc ed the closing of a 30-unit apa r tmen t property on Dewey Ave. in West New Yo r k . Th e f i v e - s t o r y , brick walk- W
asset as it is situated in the Gold Coast area of West New York and just three blocks
transaction with Redwood Realty Investment associate Saul Ramirez . “Both Steve and Saul did a tremendous job in successfully execut- ing this transaction within a very short timeframe so the buyer could use the property for a 1031 Exchange,” said Thomas McConnell, CCIM , managing partner at Redwood Realty. The buyer was LS Re- alty, LLC and the seller was Marin Blvd, LLC. n Lisa Lyng and Brian Veneri join Avison Young MORRISTOWN, NJ — Ed- ward Walsh , Avison Young principal and managing direc- tor of the firm’s New Jersey- based Project Management Services group, announced that project management vet- erans Lisa Lyng and Brian Veneri have joined the com- pany in New Jersey. Effective immediately, Lyng becomes a senior project man- ager at Avison Young. Based in the firm’s Morristown office, she will be responsible for proj- ect management activities — from budgeting through proj- ect completion — for a variety of ground-up construction projects, interior renovations and capital improvements. Veneri, who will also be based in the Morristown lo- cation, joins the firm as a project manager. In this role, he will leverage his strong background in managing cre- ative teams, and will work with firm leadership to oversee commercial interior and rede- velopment projects. “The experience and de- tailed knowledge of the New Jersey market that Lisa and Brian bring to the table make them ideal additions to our growing team of profession- als, strengthening our ability to guide clients through com- plex construction and capital improvement projects,” said Walsh. “As Avison Young continues to expand its market share in The Garden State, we are confident in Lisa and Brian’s ability to manage multiple projects while pay- ing great attention to detail. As we grow our New Jersey office, are currently seeking out leading professionals to bolster our real estate services team and continue to provide our clients with the highest level of service.” n
EST NEW YORK, NJ — Redwood Realty Advisors
north of the highly cov- eted Boule- vard East,” said Steven Matovski , a director at Redwood Re- alty. “Hud- son County
Steven Matovski
Saul Ramirez
up sold for $4.075 million and a cap rate of 5.45% — achiev- ing a record price per unit for that market at $135,833. “The record sale price speaks to the desirable location of this
continues to be a hot market for apartment sales, and buy- ers remain aggressive in their bidding for quality assets, added Matovski. Matovski brokered the
Dewey Ave. in West New York
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