SAGE Real Estate Advisors Secures All-Cash Buyer for Long-Held Infill Asset
ELIZABETH, N.J. (October 14, 2026) – SAGE Investment Real Estate Advisors (SAGE) has arranged the $5 million sale of Colonial House Apartments, a 43-unit multifamily community located at 128-144 Westfield Ave. in Elizabeth. SAGE Partner and Co-Founder Steve Tragash exclusively represented the seller, a multi-generational ownership group, and procured an all-cash unnamed buyer for the transaction.
Comprised of three classic all-brick, three-story buildings constructed in phases between 1959 and 1964, Colonial House features a mix of floorplans, ranging from eight studio and 34 one-bedroom units to one two-bedroom layout. The property also offers on-site parking and laundry facilities.
The assignment highlighted SAGE’s core strength in custom-tailored deal engineering for long-held family real estate assets. Representing a multi-generational partnership with distinct perspectives and strategic objectives, Tragash served as a trusted advisor to align the group’s objectives. By establishing clear consensus and individual stakeholder confidence, SAGE structured a clear path forward.
“Navigating generational family portfolios requires far more than standard property marketing – it demands tailored diplomacy, clear communication and an alignment of individual priorities,” said Tragash. “Our role was to listen to each partner’s perspective, build a consensus-driven process everyone trusted and execute a strategy that delivered complete clarity and financial execution for all parties involved.”
Ariela Finkel, a 50% owner of the property, echoed those sentiments, highlighting Tragash’s hands-on approach throughout the transaction.
“Working with Steve was a wonderful experience,” said Finkel. “The process was challenging at times, but his professionalism, patience and personal attention made all the difference. He was always available, kept us informed and guided us through every step from start to finish.”
As a result, SAGE identified an all-cash private investor whose investment thesis matched the property’s value-add potential, eliminating financing contingencies and ensuring a smooth closing.
“Properties with significant rent-roll upside often require specialized capital solutions,” added Pine. “By looking beyond standard transaction playbooks, we identified an all-cash purchaser who recognized the underlying strength of the real estate and had the balance-sheet capability to execute efficiently.”
Colonial House is strategically situated in one of Union County’s most resilient transit-oriented urban hubs. Driven by steady infrastructure investment and broad commercial revitalization, Elizabeth continues to attract a vibrant demographic of young professionals, healthcare workers and commuters seeking a dynamic, highly walkable urban lifestyle with direct connectivity to Manhattan.
The city’s strategic location offers rapid access to two NJ Transit rail stations serving New York Penn Station, as well as proximity to major regional economic engines including Newark Liberty International Airport, the Port Newark-Elizabeth Marine Terminal and key highway corridors. This dense employment base and transit infrastructure ensure enduring, multi-demographic tenant demand for well-located residential real estate across the county’s largest city and easternmost municipality.
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About SAGE Real Estate Advisors
Based in Livingston, N.J., SAGE Real Estate Advisors specializes in multifamily acquisitions, dispositions and strategic investment advisory across New Jersey, Pennsylvania and surrounding regional markets. Driven by 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. Built on the core principles of transparency, collaboration and long-term partnership, SAGE operates as a true solution architect by providing the deep market intelligence and principal-led guidance investors need in ever-evolving markets to make profitable decisions and achieve lasting success.