A residential development site in East Brunswick has sold for $5.1 million, according to real estate firm Cushman & Wakefield.
The firm said in a news release that AMS Acquisitions acquired the site at 377 Summerhill Road from an undisclosed seller. It is approved for 96 residential units across four, three-story buildings. AMS plans 40 one-bedroom units, 51 two-bedroom units and five three-bedroom units, as well as parking and amenities.
C&W’s Brian Whitmer, Andrew Merin, David Bernhaut, Gary Gabriel, Kyle Schmidt and Ryan Dowd represented the seller in the transaction.
“We saw significant interest for this development site due to the high quality of life that East Brunswick offers residents, as well as the fact that the site is fully approved with rough site work and grading already completed, a rare factor that will allow the buyer to start vertical construction in a few short months,” Whitmer said in a prepared statement.
It is part of a mixed-use development that includes pads that will house a Chase Bank and CVS.