Witten and Nolletti of Marcus & Millichap Real Estate Investment Services broker $4.1 million sale of Cooper Hill Apartments

Steve Witten and Victor Nolletti of Marcus & Millichap Real Estate Investment Services were the sole brokers in the sale of 70 unit Cooper Hill Apartments for $4.1 million ($58,571/unit). The property is located at 1 and 2 Goslee Dr. Cooper Hill Apartments was marketed as a value-add transaction and the property consists of 5, two story frame/brick buildings constructed in the 1960s, containing a total of 58 one and two bedroom flat style units (650 s/f - 750 s/f) and twelve two bedroom townhouse/duplex-style apartment units (850 s/f). Of the 58 flats - 21 are 1 bedroom units, 38 are 2 bedroom units. In addition there are 23 basement garage stalls, 9 of which are included with the townhouse units and 3 townhouse units have full basements. The seller was Cooper Hill Apartments Associates LLC, represented by Elliot Kaiman and Peter Gruen of Wiggin and Dana. The buyer was KWK, LLC, represented by Allan Koerner and Steven Katz of Rome, Clifford, Katz and Koerner LLP. All townhouses have washer and dryer hookups. There are five laundry facilities located on the property and there are two central, dual fuel heating systems (oil and gas fired); one serving 31 units and the other serving 39 units.