$7.2m Chestnut.Marcus & Millichap Real Estate Investment Brokerage Company announced the sale of Chestnut chestnut, name for any species of the genus Castanea, deciduous trees of the family Fagaceae (beech or oak family) widely distributed in the Northern Hemisphere. They are characterized by thin-shelled, sweet, edible nuts borne in a bristly bur. Homes in Passaic, N.J. The property, totaling 76 units, commanded a sales price of $7.2 million. Greg Celentano, of Marcus & Millichap's Fort Lauderdale Fort Lauderdale (lô`dərdāl), residential, commercial, and resort city (1990 pop. 149,377), seat of Broward co., SE Fla., on the Atlantic coast; settled around a fort built (c.1837) in the Seminole War, inc. 1911. , Fla., office, obtained the exclusive listing and Jeff Gorodensky, of the New Jersey office, provided consultation in marketing the property. Michael Fasano, of the New Jersey office, secured the buyer. The subject property is located in the heart of Passaic, on Myrtle Avenue between Oak, Chestnut and Sherman streets. The property had undergone recent up grades by the seller, including new windows, siding, roof and a new boiler boiler, device for generating steam. It consists of two principal parts: the furnace, which provides heat, usually by burning a fuel, and the boiler proper, a device in which the heat changes water into steam. . The buyer saw the value in this turnkey See turnkey system. property that features a unit mix consisting of one-, two- and three-bedroom townhouse-style units. "Mr. Fasano's transactional experience played a critical role in seeing this deal through," said Mitchell Mitchell, city (1990 pop. 13,798), seat of Davison co., SE S.Dak.; inc. 1881. Mitchell is a trade, distribution, and shipping center for a dairy and livestock area. LaBar, senior vice president and managing director of Marcus & Millichap. "Working with the exclusive and consulting listing agents for the property, we implemented a thorough marketing plan that produced an experienced, aggressive buyer to close the deal." |
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