NAI DiLeo-Bram & Co., said March 2 that its Chief Operating Officer, David Simon, arranged the sale of Evergreen Village Apartments located in Alpha, Warren County. The seller was represented in the transaction by Jerry Zaro and Jeffrey Meltzer of the law firm of Sills Cummis & Gross P.C.
“There was tremendous interest in this property demonstrating the demand that continues to exist for fully stabilized, well managed, multi-family properties in New Jersey,” stated Simon. “The meticulously maintained property has been owned and managed by the seller for several decades which made Evergreen Village extremely attractive to investors. The buyer was familiar with the property and its location, and felt that Evergreen Village was accretive to its existing multi-family portfolio,” he added.
Evergreen Village is comprised of 98, one- two- and three-bedroom units located in seven two-story buildings in Warren County, NJ. Evergreen Village offers a bucolic campus setting and is less than four miles from Route 78. The borough of Alpha is situated on the border of New Jersey and Pennsylvania. The spacious units each have a private storage area in the basement.