SAGE Real Estate Advisors Secures $23.45M Sale of Roselle Grand

SAGE Real Estate Advisors has successfully closed the $23.45 million sale of Roselle Grand, a 119-unit garden-style apartment community located on West Sumner Avenue in Roselle Park, New Jersey. The transaction highlights the firm's ability to overcome complex municipal and engineering challenges, ensuring a successful closing for the seller, Roselle Grand LLC.

The deal, spearheaded by SAGE's Partners and Co-Founders Steve Tragash and Greg Pine, faced a significant regulatory hurdle during the due diligence process. The borough required an open permit from 1999 for the installation of a stairwell sprinkler system to be officially closed out. This issue threatened the transaction timeline, as no original records could be found, creating a major obstacle for the deal's completion.

Tragash and Pine, along with Sales Associate Katie Migner, worked tirelessly for nearly a month to resolve the issue. They collaborated with municipal building authorities, the local fire inspector, and a new engineering firm to produce the precise technical documentation required by the construction department. Their efforts ensured that the regulatory roadblock was cleared, allowing for a successful closing.

Built in 1970, Roselle Grand offers a mix of studio, one-bedroom, and two-bedroom layouts, with historically high occupancy. The property, comprised of four buildings, is conveniently located near Kean University, major regional employment hubs, and offers direct access to NJ Transit and highways leading to the Garden State Parkway and U.S. Route 22. This prime location has contributed to the property's strong market presence and the successful sale.

SAGE Real Estate Advisors, based in Livingston, New Jersey, specializes in multifamily acquisitions, dispositions, and strategic investment advisory across New Jersey, Pennsylvania, and surrounding regional markets. With nearly 40 years of combined industry experience among its leadership and more than $3 billion in closed transactions, the firm pairs robust, highly tailored asset marketing with hands-on technical deal execution to navigate complex real estate challenges. SAGE operates as a true solution architect, providing deep market intelligence and principal-led guidance to investors in ever-evolving markets.

The transaction underscores SAGE's commitment to protecting value and ensuring sales close, even when unexpected municipal or engineering roadblocks arise. The firm's ability to act as solution architects and deal facilitators has proven crucial in securing the $23.45 million sale of Roselle Grand, a testament to their expertise and dedication to their clients.