Thursday, January 8, 2015

The Gates at Somers Point Sell for $11.4M

A family trust sold The Gates at Somers Point apartments at 555 Shore Rd. in Somers Point, NJ to Streamwood Company for $11.4 million, or about $56,000 per unit.

The 157,000-square-foot multifamily property consists of five buildings with one-, two-, and three-bedroom layouts. The complex boasts landscaped grounds, parking, and on-site property manager. At the time of sale the property was about 98 percent occupied.

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