July 15, 2020
CBRE arranged the $6-million sale of Liberty Place Development Site, a 6.4-acre multifamily development site in Union, NJ that is fully approved for 153 apartment units.
The firm’s Jeffrey Dunne, Gene Pride, Jeremy Neuer, Eric Apfel and Zach McHale, along with colleagues Nat Gambuzza and Trevor Fiebel, represented owner Sherwood Group Associates, while also procuring the buyer, RMS Companies, in its first New Jersey acquisition.
The site is located in a quiet residential neighborhood with access to regional transportation via the Garden State Parkway and NJ Transit Stations in Union and nearby Roselle Park and nearby residential amenities of shopping, dining, entertainment and recreation.
“The suburban location is the right place for new residential development as demographic trends show increasing interest from renters in places like Union that offer convenient access to employers throughout the region, while also providing a high quality of life in a suburban setting,” said Dunne.
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