Mid Atlantic Real Estate Journal — New Jersey — August 16 - 29, 2013 — B
N ew J ersey
Specializing in multi-family, Regal Bank is ready to lend.
McConnell, CCIM and McCrann marketed the property Marcus & Millichap sells 17 unit apt. building for $1.66m
$2,100,000 34 unit multi family building Roselle, NJ
$2,000,000 12 unit multi family building Hoboken, NJ
$775,000 15 unit 4 story walk up Jersey City, NJ
AYWOOD , N J — Marcus & Mil- lichap Real Es-
$1,000,000 13 unit walk up Passaic, NJ
tate Invest- ment Ser- vices , one of the nation’s largest real estate invest- ment services firms, has an- nounced the sale of Elm Court Apart- ments, a 17 unit apart- ment c om- plex located in Maywood, according to Ryan Nee , r e g i o n a l manager of
• Non-recourse loans available up to $4.5 million • Low interest rates • Extended amortization • Flexible prepayment options
Livingston, Roseland, Florham Park & Millburn regalbanknj.com
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Elm Court Apartments
the firm’s New Jersey office. The asset commanded a sales price of $1.66 million. ThomasMcConnell, CCIM and Kevin McCrann , direc- tors in Marcus & Millichap’s National Multi Housing Group (NMHG), had the listing to market the property on behalf of the seller, a local private investor. McConnell and Mc- Crann also represented the buyer. “Bergen county multifam- ily product continues to fall short in supply and high in demand. This combined with historically low interest rates have made it clear we are in a seller’s market.” said McCon- nell “This will continue until interest rates tick upwards.” adds McCrann. n Morristown, NJ — Cassidy Turley negotiated a 21,681 s/f, seven and a half year lease at 44 Whippany Rd. in Morristown on behalf of Ed- wards Wildman. The law firm, with locations throughout the U.S., U.K. andAsia, is expected to move into the new property in fall 2013. The classAproperty is owned by RXR, which handled nego- tiations internally. The Cas- sidy Turley team of Raymond Trevisan, Chuck O’Connor, William O’Keefe and Alison Cavanaugh served as tenant representative. Edwards Wildman looked to adopt a more modern and open office floor plan as well as to reduce square footage, and Cas- sidy Turley worked with RXR to relocate Edwards Wildman to 44 Whippany Rd. n Cassidy Turley’s inks 21,681 s/f lease
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