Gebroe-Hammer Associates announced Monday it has arranged the $6.6 million sale of a three-building portfolio in Bergenfield.
The portfolio, located at 1 Murray Hill Terrace and 117 and 111 S. Washington Ave., consists of 36 multifamily units, three commercial units and an adjacent single-family home.
Greg Pine, executive vice president, and Nicholas Nicolaou, senior vice president, represented the seller, Lisalene Properties LLC, and procured the buyer, a private investor.
“Tucked into central Bergen County, Bergenfield has an enviable combination when it comes to multi-family investments: a college-educated population where about one-third are renters and the apartment housing stock is the equivalent, in terms of percentage,” Nicolaou said. “Rounding out its attraction are good schools, a thriving commercial district with quaint shops and outstanding dining and very walkable neighborhoods.”
The largest of the properties is 1 Murray Hill Terrace, which is a single, three-story building with a mix of 27 studio, one- and two-bedroom units.