New Owner Buys Bloomfield Apartment Building On Berkeley Avenue

BLOOMFIELD, NJ — An condominium building “in the heart of just one of Bloomfield’s optimum-appreciating neighborhoods” has a new operator, a firm announced Wednesday.

According to Gebroe-Hammer Associates, 204 Berkeley Avenue has changed possession. The price, seller and customer – a “private trader” – were being not disclosed in a statement saying the sale.

Livingston-primarily based Gebroe-Hammer represented the seller in obtaining the building in late 2021, the agency said.

In accordance to the firm:

“Built in 1928 and constantly current, 204 Berkeley Flats is comprised of a mix of just one-bedroom (30 units) and two-bed room (9 models) layouts. Positioned 17 miles from Midtown Manhattan, the higher-cash flow high-populace-density Franklin Avenue/Watsessing Avenue community is at the crossroads of the Yard State Parkway and the U.S. Route 46/NJ Route 3 interchange. Freeway connections incorporate Interstates 80, 280 and 287 as effectively as Local Routes 7, 19, 21 and 23.”

“As a result of 204 Berkeley Apartments’ remarkable connectivity to employment centers in Manhattan and during Northern New Jersey, as effectively as proximity to the area’s abundant experiential/lifestyle facilities, Bloomfield and the full East Essex/Southwest Passaic County submarket enchantment to a diverse tenant base of upwardly mobile career starters, executives and effectively-educated vacant nesters,” executive vice president David Jarvis claimed.

Jarvis noted the residence was thoroughly occupied at the time of sale.

“In Bloomfield, significantly of the general housing inventory was built prior to Entire world War II, which tends to make it 1 of the more mature, a lot more historic townships in the nation,” president Ken Uranowitz mentioned.

“As these, current multifamily qualities like 204 Berkeley Residences dominate the housing landscape and have tremendous attractiveness amid an evolving renter foundation that now incorporates an influx of younger, single, educated and upwardly cell experts,” Uranowitz mentioned.

“Walkability, nearby conveniences and affordability have fed this pipeline throughout the whole East Essex County corridor in recent yrs,” Uranowitz added.