Sitar Company Announces the Sale of Two Central New Jersey Properties Totaling $5.1 Million

ISELIN, N.J.--(BUSINESS WIRE)--Sitar Company, a leading New Jersey commercial and investment real estate firm, announced today the sale of two multi-family properties, Rosewell Gardens and Borden Village located in Central New Jersey for a combined total of $5.1 Million.

“While the demand for high-quality multi-family apartment complexes remains healthy, we were able to utilize our extensive industry expertise and local market knowledge to ensure both transactions were completed as quickly and efficiently as possible,” said Ron Schrader Jr., Sales Associate, Sitar Company. “Despite the current condition of the economy as a whole, these transactions demonstrate our ability to perform under any market conditions” he continued.

Rosewell Gardens, an 18-unit garden apartment complex, is located on the South Amboy Waterfront in Middlesex County. The property sold for $1.55 Million, or approximately $86,000 per unit. Sitar Company represented both sides of the transaction. Ron Schrader, Jr., Sales Associate, represented the undisclosed seller and Joseph Nitti, President, Industrial Division, represented the buyer, a local partnership.

Borden Village, a 24-unit garden apartment complex covering two acres in Point Pleasant, Ocean County, was sold on an all-cash basis for $3.55 Million, or approximately $148,000 per unit. Ron Schrader, Jr., Brian Schrader and Ronald M. Schrader, all of Sitar Company, exclusively represented the undisclosed seller in the transaction.

ABOUT SITAR COMPANY

Based in Iselin, New Jersey, Sitar Company - ONCOR International is a leading commercial real estate firm that specializes in retail, office and industrial leasing and sales, property disposition, consulting for acquisitions, investments, joint ventures and asset management. Sitar Company is also active in tenant representation as well as owner representation for exclusive agencies. Local knowledge of the New Jersey real estate market has often meant a shorter lease-up period for exclusive properties and the firm has consistently represented corporations for some of the largest leases signed in the metropolitan area. The Company also has offices in both Sea Girt and Asbury Park which focus on both commercial and residential real estate. For more information, please visit our website at www.sitarcompany.com.