Alpine Village Apartments at 4 Center St. in Wantage — Courtesy: Gebroe-Hammer Associates
By Joshua Burd
A private investor has acquired a 134-unit apartment complex in Sussex County, under a newly announced transaction by Gebroe-Hammer Associates.
The firm announced Tuesday that it represented the seller, Alpine Village Apartments LLC, in the $16.59 million transaction at 4 Center St. in Wantage. The sale of Alpine Village Apartments also included a 17-acre land parcel for the construction of additional units.
Gebroe-Hammer Executive Vice President Stephen Tragash completed the assignment.
“As one of the nation’s most historic boroughs with a high concentration of pre-World War II housing units, Sussex has a residential population where approximately 68 percent are renters,” Tragash said. “For tenants seeking suburban charm, picturesque views and highly unique lifestyle amenities, the borough and county of Sussex are a major draw. These conveniences are feeding a pipeline of northeast New Jersey and New York City transplants that just keeps growing.”
Alpine Village features a mix of one- and two-bedroom layouts ranging from 808 to 1,090 square feet, according to a news release. Constructed in 1970, the apartment homes include new windows and updated kitchens with dishwashers, with on-site amenities such as off-street parking, garages and on-premises laundry facilities.
The garden-style community is at the crossroads of routes 23 and 284, Tragash said, touting it as the focal point for the region’s primary business and shopping districts.