Gebroe-Hammer arranges $16.59M sale of multifamily complex in Wantage

By Emily Bader
Wantage | Apr 23, 2019 at 11:03 am

Gebroe-Hammer Associates announced Tuesday it has arranged the $16.59 million sale of a multifamily apartment complex in Wantage.

The deal for the Alpine Village Apartments, which has 134 multifamily units, also included a 17-acre land parcel for the construction of additional units.

Stephen Tragash, executive vice president of Gebroe-Hammer, represented the seller, Alpine Village Apartments LLC and procured the buyer, a private investor.

“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,” Tragash said. “For tenants seeking suburban charm, picturesque views and highly unique lifestyle amenities, the borough and county of Sussex are a major draw. These conveniences are feeding a pipeline of northeast New Jersey and New York City transplants that just keeps growing.”

The complex, located at 4 Center St., features a mix of one- and two-bedrooms ranging in size from 808 to 1,090 square feet. On-site amenities include off-street parking, garages and on-site laundry facilities.

Emily Bader | ebader@roi-nj.com | emilybader