B — January 31 - February 13, 2014 — Owners, Developers & Managers — Mid Atlantic Real Estate Journal
www.marejournal.com O wners , D evelopers & M anagers Nicolaou represents both seller and buyer SELA Properties acquires two buildings totaling $4.4 million
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J
ersey City, NJ — SELA Properties has announced its latest ac-
quisition, two buildings in M c G i n l e y Square and Bergen areas totaling 50 apartments and 14 park- ing spots. The sale price was reported at $4.4 million.
Subsurface Investigations • Construction Inspection and Testing Geotechnical Design & Analysis • Environmental Site Assessments and Remediation • Clean Fill Testing • Carbonate Site Assessments Stormwater Infiltration Testing • Laboratory Soils Testing www.earthengineering.com Corporate Headquarters: 610-277-0880 • Lehigh Valley: 610-967-4540 Central PA: 717-697-5701 • South Jersey: 856-768-1001
Tal Steinberg
“This acquisition aligns with our other investments in the Journal Square area increas- ing our portfolio to over 100 residential units in this area. We are planning on adding laundry facilities to the build- ings, renovating a few apart- ments and increasing our net income, yielding higher re-
645 Bergen Ave.
turns to our investors” said Tal Steinberg , managing partner for SELA.
Nicholas Nicolaou , VP of Gebroe-Hammer represented both the seller and buyer. n
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Pulte Homes & Somerset Development announces start of construction on Liberty Square at Wesmont Station
WOODRIDGE, NJ — Pulte Homes announced that construction has com- menced on Liberty Square at Wesmont Station, a new
community of 217 luxury for- sale townhomes that is being developed as part of a mixed- use by developer Somerset Development .
The announcement marks another important step in the ongoing revitalization of the 70-acre Wesmont Station redevelopment site. n
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