O wners , D evelopers & M anagers

Mid Atlantic Real Estate Journal — July 27 - August 16, 2012 — A


110 units in Toms River, New Jersey The Gebroe-Hammer team of Brecher & Follman broker $16.1 million sale of Dover Chase Apts.

T OMS RIVER, NJ — The Gebroe-Hammer Associates brokerage team of Joseph Brecher, ex- ecutive vice pr e s i dent , and sales as- sociate Ste- venFollman, brokered the $16.1 mi l - lion sale of 11 0 un i t s a t D o v e r Chase. Ge- broe-Ham- mer repre- sented the se l l er and p r o c u r e d the buyer, a long-term client who finalized a 1031 Exchange with the ac- quisition. Joseph Brecher Steven Follman Washington, DC — UIP General Contracting Inc. of Washington, DC (UIPGC) has been selected by the 1489 Newton Street Cooperative, Inc. to renovate the exterior and common areas of its 24- unit building in the Colum- bia Heights neighborhood of Washington, DC. The project is expected to be completed before the end of the year. UIPGC will provide a new design-build amenity space in the building’s basement level, to include a community room, restroom facilities, and storage lockers, as well as up- graded finishes (including tile, carpeting, paint, and fixtures) throughout the space. In ad- dition, UIPGC will upgrade the entire building’s electrical system and make interior and exterior structural repairs. The Harrison Institute for Housing and Community De- velopment, part of the George- town University Law Center, provides legal representation and transactional services to the 1489 Newton Street Cooperative, Inc., supporting

sult in heightened invest- ment trading activity in the coming 12 to 18 months,” said Brecher. Built in 2008, Dover Chase was 95 percent occupied at the time of sale. Features in- clude a mix of one-, two- and three-bedroom layouts. Spa- cious floor plans with nine- foot ceilings, a washer and dryer in each unit, on-site parking, gourmet kitchens with granite countertops and stainless-steel appliances, tiled bathrooms, balcony/ patios, air conditioning and walk-in closets are among the modern amenities. Most units also have attached ga- rages with direct apartment access. “This class-A, amenity filled garden complex is lo- cated just seven miles from the center of town and within the co-op’s goal of maintaining and preserving its residence as high-quality, affordable hous- ing. “The Harrison Institute has worked with UIP over the years and is glad to work with them again on Newton’s rehabilitation project,” said Alina Ball, a supervising at- torney and clinical teaching fellow at Harrison. “The Board selected UIPGC for this proj- ect because they had the most comprehensive proposal and their vision was most aligned

minutes from local beaches, both of which contributed toward the per-unit price of approximately $146,000,” said Follman, who noted the seller plans to acquire a distressed out-of-state as- set with the proceeds of this sale as part of an exchange as well. Toms River is one of the fastest growing regions in the State of New Jersey. As the county seat, the town- ship is served by several major roadways, including the Garden State Parkway and U.S. Route 9, as well as Routes 35, 37, 70 and 166 and County Routes 527, 530, 549 and 571. NJ Transit also provides five bus routes linking Newark/Jersey City, Manhattan andAtlantic City and rail service in nearby Bay Head. n with the Board’s. UIPGC’s patience and flexibility during this process has been greatly appreciated.” “This has been a good expe- rience for us thus far,” added Josue Salmeron, president of the 1489 Newton Street Co- operative, Inc. “We are excited to see the construction already underway in the building and look forward to having our vision for our home become a reality with UIPGC’s assis- tance.” n

Dover Chase

“Ocean County offers ideal demographics and a high concentration of new and

existing multi-family product that, if it follows statewide trends as expected, will re-

UIP General Contracting renovates exterior and common areas of 1489 Newton Street Cooperative’s 24-unit building

EWMA’s McSwieney &Moffit become licensed LSRPs

MA’s office in Lawrenceville. Shehas a longanddistinguished career in Brownfield Redevel-

Lawrenceville, NJ — Two members of EWMA are among the first fully licensed

opment and remedial in- vestigations, and site re- mediation. Moffit has over 17 years experience as a practicing geologist. n

L S R P s i n New Jersey: Sharon Mc- Swieney, as- sistant vice president and Alfred Moffit, III, director. McSwieney is with EW-

Sharon McSwieney Alfred Moffit, III

The Harrison Institute for Housing and Community Development

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