Roselle Grande, a 119-unit garden-style apartment community at 220-250 W. Sumner Ave. in Roselle Park, NJ, has been sold in a transaction arranged by SAGE Real Estate Advisors. The property changed hands for an undisclosed price, with the brokerage firm exclusively representing the seller, Roselle Grande LLC, and also sourcing the unnamed buyer.
The SAGE Real Estate Advisors team on the assignment included partners and co-founders Steve Tragash and Greg Pine, principal Eli Herskowitz and associate Katie Migner. The group acted as the seller’s advisors throughout the process and remained involved as the deal encountered hurdles during the seller’s deliverables phase.
While documentation was being assembled, the transaction was disrupted by an unresolved permit issue identified by the municipality. To keep the sale on track, SAGE coordinated a focused response, taking the lead on addressing the permitting question with local officials and technical consultants.
According to the firm, Tragash and Migner spent nearly a month working with engineering companies to compile and submit materials requested by the town’s construction department. That process involved obtaining the required documentation and delivering it to the municipal team so the open permit matter could be addressed and the deal could proceed toward closing.
Tragash characterized the assignment as an example of how current commercial real estate conditions often demand more extensive involvement from advisors. He noted that today’s environment calls for an engaged, knowledgeable intermediary willing to move beyond traditional brokerage responsibilities to help ownership resolve issues that might otherwise impede a transaction.
Built in 1970, Roselle Grande consists of four residential buildings situated on a parcel at the intersection of Roselle Park and Kenilworth. The community offers a mix of studio, one-bedroom and two-bedroom apartment layouts. The property is described as stabilized, with historically high occupancy, and features on-site parking and dedicated laundry facilities for residents.
