Imperial House, a residential high-rise, in Elizabeth, New Jersey, just sold for $21.26 million, according to a recent news release. Executive Vice Presidents Stephen Tragash and David Jarvis of Gebroe-Hammer Associates exclusively represented the seller, Landmark Companies based in Keasbey, New Jersey, and procured the buyer, a private investor, in the transaction.
Located at 750 North Broad Street, Imperial House is in North Elizabeth along a popular commercial corridor and less than half a mile from the North Elizabeth NJ Transit station. The 13-story residential fixture was built in 1960 and acquired by Landmark Companies in 1986.
Imperial House is comprised of 109 units, offering nine different floor plan options across 12 studios, 48 one-bedrooms, 44 two-bedrooms, and five three-bedrooms. Apartments range from 450 to 1,350 square feet and select units have a sunroom, dining room, and/or a 25-square-foot outdoor balcony.
Landmark Companies principals Eric Harvitt and Michael Gottlieb were involved with the sale. “The buyer is obtaining a very well-maintained building with large units and ample parking,” Harvitt said. Gottlieb added, “Its amenities are what distinguish Imperial House from its competition.” Standout amenities include a modern twin-elevator lobby, landscaped courtyard, a newly renovated and expanded surface parking lot, and a heated indoor garage.
As New Jersey’s fourth-largest city with easy access to public transportation and countless roadways, “Elizabeth has secured its place near the front of the line of New Jersey’s top live/work/relax urban hubs where dynamic living and transit options are virtually limitless,” Stephen Tragash of Gebroe-Hammer noted. “All roads and rail lines lead to Newark Liberty International Airport, the city of Newark itself, Jersey City, and offerings throughout the entire New York Metro.”
Founded in 1975, Livingston, New Jersey-based Gebroe-Hammer concentrates on all types of multi-family properties in New Jersey, eastern Pennsylvania, and New York State submarkets, and represents client interests nationally.