20C — May 15 - 28, 2015 — NJAA CONFERENCE & EXPO — M id A tlantic

Real Estate Journal


2015 NJAA C onference & E xpo

AMMONTON, NJ — Marcus & Mil- lichap , a leading Nat Gambuzza markets the property on behalf of the seller and represents the buyer Marcus & Millichap arranges the $5.1 million sale of a 72-unit apartment building H

Northern New Jersey, began remedying the building prior to ownership. “All in all, it was a fruitful transaction for both parties,” said Gambuzza. n NY State’s new mold law: Are you ready? is specific to each remediation project and to provide the plan to the client before the reme- diation begins. The plan must include, at a minimum, the rooms or areas where the work will be performed, the esti- mated quantities of materials to be cleaned or removed, the methods to be used for each type of remediation in each type of area, the personal pro- tection equipment (PPE) to be used, and the proposed clear- ance procedures and criteria for each type of remediation in each type of area. The plan must also provide recommen- dations for notice and posting requirements that are ap- propriate for the project size, duration, and points of entry and an estimate of cost and time frame for completion, and when possible, the under- lying sources of moisture that may be causing the mold and a recommendation to remedy the source of such moisture. The law will require that a post remediation assess- ment (i.e. Mold Clearance) shall determine whether the work area is free from all visible mold and all work has been completed in compliance with the remediation plan and meets clearance criteria specified in the plan. So if you are a contractor, facilities manager, larger property owner, environ- mental consultant, or a home owner and are not familiar with New York’s new mold law, NOW is the time to become familiar!!! If you don’t want to be a violator of Article 32 of the Labor Law – Mold Law Email, Call or Visit www.LEWCorp.com for additional information or available training certifica- tion courses. QUESTIONS ARE ALWAYS FREE! Lee E. Wasserman is president of LEW Cor- poration, (800-783-05678, www.LEWCorp.com), and a national Lead-Based Paint and Microbial fungi environmental subject expert . n continued from page 5C

the firm’s New Jersey office. The asset sold for $5.1 million. Nat Gambuzza , vice presi- dent of investments in Marcus & Millichap’s New Jersey office, had the listing to mar- ket the property on behalf of the seller, a private investor. Gambuzza also represented the buyer in this transaction. “This sale presented several challenges, including deferred maintenance and structural issues. We were tasked with identifying the appropriate purchaser to take on such an undertaking,” says Gambuzza. The purchaser, a builder from

commercial real estate investment services firm with offices throughout the United States and Canada, an- nounced the

Nat Gambuzza

sale of Colonial Court Apart- ments, a 72-unit apartment property located in Hammon- ton, according to Brian C. Hosey , regional manager of

Colonial Court Apartments


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