Roselle Grande at 220-250 West Sumner Ave. in Roselle Park — Courtesy: SAGE Real Estate Advisors
By Joshua Burd
A private investor has acquired a 119-unit garden apartment complex in Roselle Park for an undisclosed price, according to a listing team with SAGE Real Estate Advisors.
The seller, Roselle Grande LLC, completed the deal at 220-250 West Sumner Ave. after what the brokers described as a complex deliverables phase. That included an unresolved permit issue that was addressed by Livingston-based SAGE, which spent nearly a month consulting with and engaging engineering companies to provide the borough’s construction department with the required documentation.
Steve Tragash and Greg Pine, partners and co-founders, and Principal Eli Herskowitz and Associate Katie Migner represented the seller and procured the unnamed buyer. Tragash and Migner spearheaded the effort to resolve the permit issue at what’s known as Roselle Grande, the firm said, effectively absorbing the operational burden to ensure a seamless path to closing.
“Today’s commercial real estate environment requires an engaged and knowledgeable adviser who is willing to step outside the traditional box,” Tragash said. “At SAGE, in addition to marketing properties for sale and advising on the current marketplace, we manage the friction that naturally occurs during complex deals. Transaction expertise, which comes with experience, is integral to navigating the unique challenges inherent in almost every sale. This level of specialization is one of many reasons clients trust us and continue to work with us.”
Built in 1970 and located at the intersection of Roselle Park and Kenilworth, Roselle Grande consists of four buildings with a mix of studio, one-bedroom and two-bedroom layouts. The stabilized property has historically high occupancy rates, on-site parking and dedicated laundry facilities, SAGE said, noting that it offers a rare combination of suburban livability and urban accessibility.
The complex is also near top-rated local public and private schools, Kean University and major employment hubs, including New York City and Jersey City, the firm added. The borough is connected via NJ Transit, the Garden State Parkway and Route 22.
“Roselle Grande is a phenomenal asset in a dense, supply-constrained market, and getting this deal across the finish line required absolute operational alignment from our entire team,” Pine said.
