6B — April 26 - May 9, 2019 — Owners, Developers & Managers — M id A tlantic
Real Estate Journal
www.marejournal.com
O wners , D evelopers & M anagers
EVP Stephen Tragash Exclusively Reps Seller & Procures Buyer Alpine Village Apts. in Sussex, NJ sells for $16.59M in transaction arranged byGebroe-Hammer S
one- and two-bedroom layouts ranging from 808 s/f to 1,090 s/f. Constructed in 1970, the apartment homes include new windows and updated kitchens with dishwashers. On-site ame- nities include off-street parking, garages and on-premises laun- dry facilities. The garden-style community is at the crossroads of Route 23 and 284, the focal point for the region’s primary business and shopping districts. “As one of the nation’s most historic boroughs with a high concentration of pre-World War II housing units, Sussex has a residential population where approximately 68% are
renters,” said Tragash, the firm’s New Jersey Highlands Region market specialist. “For tenants seeking suburban charm, picturesque views and highly unique lifestyle ameni- ties, the borough and county of Sussex are a major draw. These conveniences are feed- ing a pipeline of northeast New Jersey and New York City transplants that just keeps growing.” The borough’s workforce is primarily comprised of sales and office workers, service providers and professionals and out-commuter transit op- tions are plentiful. In addition to direct access to Rtes. 23 and 284, mass transit includes Skylands Connect, the local bus service offering connections to Hamburg, Sparta and Newton transit centers. Sussex Airport also is located nearby. The sale of Alpine Village Apartments marks the sec- ond Sussex multi-family sale within a six-week timeframe for Tragash, who spearheaded the brokerage team arranging the $17.9 million sale of 168 units at Landmark West Apart- ments. Tragash represents a wide range of first-time and long-term clients in some of the region’s most prominent market and off-market transactions. Mc L a r e n E n g . Group announces new president WOODCLIFF LAKE, NJ — McLaren Engineering Group announced that Jer- emy Billig, P.E. , has been named president. Billig, most recently the firm’s vice presi- dent and NYC regional direc- tor, will lead McLaren along with Malcolm McLaren, P.E. , CEO and founder. Bil- lig’s appointment follows a board-driven growth plan that includes the firm’s recent expansions in New Jersey and Philadelphia, and the addition of several senior leaders. During his 15-year tenure at McLaren, Billig has di- rected a range of engineering projects while starting and growing the New York City office to over 40 staff. As the firm has expanded, Billig has managed McLaren’s orga- nizational planning efforts, including supporting the firm’s merger and acquisition (M&A) activity and developing a scal- able structure to accommodate growth.
USSEX, NJ — In the heart of the Borough of Sussex in Sussex County, Gebroe-Hammer Associates’ Stephen Tragash , executive vice president, has arranged the $16.59 million sale of 134 multi- family units at Alpine Village Apartments in Wantage. The transaction, in which Tragash represented the seller, Alpine Village Apartments LLC, and procured the buyer, a private investor, also included a 17-acre land parcel for the construction of additional units. Located at 4 Center St. in the Borough Center, Alpine Village features a mix of oversized
Alpine Village Apartments
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