Caroleo of Zere Real Estate Services brokers $2.375 million

Zere Real Estate Services (www.zere.com) has completed the sale of a 13,200 s/f multifamily adult community over-55 apartment complex at 625 Fulton Ave. to an undisclosed investor for $2.375 million. Patrick Caroleo, managing director of Zere represented the seller. "It turned out that there was a bidding war on the property and a waiting list of potential buyers. The property was a 100% occupied with a 7.2 cap rate and conveniently located off the Rte. 110 Business Corridor and major roadways." Geoffrey Matherson of Coach Realtors represented the buyer.