Trade of 32-unit complex signals enduring apartment-rental demand in NY Metro commuter hubs
DUMONT, N.J. [November 12, 2025] – Sage Investment Real Estate Advisors (Sage), a leading commercial real estate brokerage firm, has arranged the sale of Madison Apartments, a 32-unit multifamily property located at 186–192 Madison Avenue in Dumont, N.J. (Bergen County). Sage’s co-founding Partners Steve Tragash and Greg Pine exclusively represented the seller, Stayce Arms LLC, and procured the buyer, NWestates LLC, a private investment group expanding its North Jersey portfolio, in the sale of the four-building property for an undisclosed price.
“The successful sale of Madison Apartments underscores the continued strength of Bergen County’s existing multifamily assets,” said Tragash. “Our firm was selected by ownership for a multitude of reasons, including our ability to comprehensively manage every aspect of the transaction – from market valuations to closing. With the Sage proprietary process and our deep experience in this market, we are able to anticipate challenges and create a successful outcome for our clients.”
Originally built in 1960 and retained by original ownership (the seller), Madison Apartments comprises four two-story brick buildings featuring a mix of one- and two-bedroom units. Occupying 0.92 acres, the apartment-rental community includes 14 garages and 39 parking spaces, with on-site laundry facilities and convenient access to major highways, retail centers and public transportation. At the time of sale, the property was fully occupied.
Dumont, located just 16 miles from Manhattan, continues to attract professionals and families seeking suburban living with urban accessibility. Its proximity to major employment centers, top-rated schools and a strong sense of community make it one of Bergen County’s most desirable rental markets.
“Because of its geographic location within Bergen County, Dumont remains one of the more reliable multifamily markets in North Jersey,” added Pine. “Demand continues to grow as renters look for more affordable options outside the immediate metro area. The fundamentals here are still very strong for both stabilized and value-add properties.”
This transaction adds to Sage’s growing portfolio of successful multifamily dispositions across New Jersey and Pennsylvania.
Established by Tragash and Pine, Sage Investment Real Estate Advisors specializes in the sale of multifamily, and other similar assets throughout New Jersey and Pennsylvania. Originally based in Morristown, Sages recently relocated its office to 316 Eisenhower Parkway in Livingston, N.J. The firm’s clients include institutional investors, private equity funds, family offices and private owners seeking strategic brokerage and advisory expertise.
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