Gebroe-Hammer completes Monmouth deals.Gebroe-Hammer recently completed two major transactions totaling more than $15.2 million in Monmouth County. The activity included the sale of a multi-family property in Asbury Park Asbury Park, city (1990 pop. 16,799), Monmouth co., E N.J. An Atlantic resort noted for its beach, boardwalk, and convention hall, it has declined since the 1960s. The burning liner Morro Castle grounded off the beach here in Sept. and the sale of an apartment complex in Matawan. In Asbury Park, Steve Follman, area sales associate, recently arranged the sale of 40 units at 702-704 Fifth Avenue for $4.1 million. Follman represented the seller, LDF LDF Local Development Framework LDF Left Democratic Front (India) LDF Local Distribution Frame LDF LuraDocument Format (file extension) LDF Low Density Fiberboard Management Inc., and procured the buyer. The firm was awarded the exclusive listing to market the property on behalf of the seller. Attorney Sanford Brown Rev. Dr. Sanford "Sandy" Brown is a United Methodist minister from the Seattle, Washington area. He currently serves as executive director of the Church Council of Greater Seattle, one of the largest regional ecumenical bodies in the U.S. , Esq. of Brown and Connelly in Ocean, N.J. represented the buyer. Attorney Anthony Pagano, Esq., of Novins, York York, former name of Toronto, Canada York, Ont.: see Toronto, Ont., Canada. York, city, England York, city (1991 pop. 123,126) and district, North Yorkshire, N England, at the confluence of the Ouse and Foss rivers. , Pentony, and Pagano in Toms River represented the seller. In Matawan, Joseph Brecher, senior vice president, worked with Follman on the $11.125 million 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. Court for the New Jersey-based Solomon Organization. Brecher represented the seller and procured the buyer, both of which are long-time loyal Gebroe-Hammer clients. Attorney Allen G. Popowitz, Esq. of Wolf Block Brach Eichler of Roseland represented the seller. Attorney Steven Fleissig, Esq. of Herrick, Feinstein in Newark represented the buyer. "The deal was conducted within a very short time-frame," said Brecher. "The buyer is planning extensive renovations to the property with regards to the grounds and exteriors. In addition, we were able to help the buyer realize the potential of increased income since all the units have individual HVAC (Heating Ventilation Air Conditioning) In the home or small office with a handful of computers, HVAC is more for human comfort than the machines. In large datacenters, a humidity-free room with a steady, cool temperature is essential for the trouble-free systems. "As a result, it would be possible to separately meter each unit so that each tenant would be responsible for their own utilities." The 100-unit apartment complex was 100% occupied at the time of the sale. |
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