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Brokerage
Posted: September 21, 2007
Kelin of Feinstein, Raiss, Kelin & Booker closes $21 million deal
Richard Kelin, a managing partner of Feinstein, Raiss, Kelin & Booker, has closed a deal valued at $21 million. The package deal included two separate properties, each multi-family buildings with parking facilities. The Elizabeth location includes one hundred four units plus parking facilities. There are two garages and outdoor numbered parking spaces. The Maplewood Site has eighty-eight units and 57 parking spots.
Kelin worked closely with Gebroe-Hammer Associates to finalize the transaction.
Ken Uranowitz, managing director of Gebroe Hammer, said, "What makes this deal so special is that we're in a market where there is such an under supply of class a, real estate and these properties, built in 1950, were sold by the original builder's grandchildren."
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