News: Front Section
Posted: August 20, 2008
Chozick Realty arranges $15.775m 125 unit sale to Windsor Castle
Rick Chozick of Chozick Realty acting as the sole broker has arranged the sale of the Manor House Apartments for $15.775 million. The Manor House on Revere Dr. and Park Ave. consists of 125 apartment units constructed in 1972. This 11 building complex, on 15.33 acres, contains a unit mix of 24 one bedroom apartments and 101 two bedroom apartments. The property offers spacious rental units with one bedrooms of 705 s/f and two bedrooms of 870 s/f.
Over the past several years the property has been updated with new windows, roofs and boilers along with unit and common area upgrades. The properties location just west of the Bloomfield Central Business district and its highly attentive management has helped to maintain an occupancy level of at or above 98% on a consistent basis according to Rick Chozick.
The seller was an investment group lead by J. Winkler who had owned and managed the property since the 1970s.
The purchaser was Windsor Castle LLC.
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