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Roselle Park 119-unit apartments sell after permit issue resolved
The 1970-built Roselle Grande complex has studios to two-bedroom units and features high occupancy, on-site parking, and on-site laundry.
ConnectCRE says Roselle Grande, a 119-unit garden-style apartment community at 220-250 W. Sumner Ave. in Roselle Park, New Jersey, has changed hands in a transaction arranged by SAGE Real Estate Advisors.
The deal price was not disclosed. SAGE’s team exclusively represented the seller, Roselle Grande LLC, and procured an unnamed buyer.
During the seller’s deliverables phase, the transaction ran into an unresolved permit issue. SAGE spearheaded a resolution effort that involved nearly a month of consulting with and engaging engineering companies to provide the town’s construction department with required documentation.
Built in 1970, Roselle Grande consists of four buildings on a parcel at the intersection of Roselle Park and Kenilworth, with a mix of studio, one-bedroom, and two-bedroom layouts. The stabilized property includes historically high occupancy rates, on-site parking, and dedicated laundry facilities, according to ConnectCRE.