JASCO Management has sold the historic Grand Court Villas multifamily property in Trenton, NJ, to private investor Steve Henkel for $6.15 million, or $97,600 per unit.
This 63-unit luxury apartment complex, which is registered as a National Historical Landmark, is the former site of the Clay, Henry and Bock & Company Cigar Factory. It was built in the 1920s as replica of a Cuban cigar factory.
The property is at 507 Grand St. and was 92% occupied at the time of sale. Amenities include an on-site fitness center, rooftop decks and underground parking.
Joni Sweetwood and Barry Waisbrod of The Kislak Co. represented the buyer and seller, respectively, in the transaction.
Please refer to CoStar COMPS #1563741 for more information on this transaction.