LIVINGSTON, NJ [March 16, 2026] – SAGE Investment Real Estate Advisors (SAGE) has finalized three multifamily transactions totaling $29.35M across New Jersey’s Morris, Bergen and Middlesex counties. Building on this activity, the firm has also been awarded the exclusive listing for Ravenscroft Apartments, a 75-unit community in Phillipsburg as well as Elmora Garden, a 60-unit garden complex in Elizabeth.
The transactions illustrate SAGE’s ability to navigate diverse asset classes, ranging from newly constructed luxury townhouse developments to large-scale rent-stabilized portfolios and complex estate sales. In all three sales assignments, SAGE represented the seller and successfully procured the buyer.
Leading the recent activity is the $5.35 million sale of The Ashton, located at 312 Hillside Ave. in Chatham, NJ. Spearheaded by SAGE’s Steve Tragash, the transaction set a $741,000/market rate unit benchmark and involved seven market-rate luxury units and one COAH unit.
Built in 2024, The Ashton is a three-story turnkey asset featuring spacious two-bedroom, 2.5-bathroom residences equipped with private patios, balconies and high-end finishes.
“Chatham is a high-barrier, high-income market with incredibly restrictive zoning,” said Tragash. “Acquiring a fully stabilized, all-new luxury asset in one of Morris County’s most desirable suburbs is a rare opportunity, and the pricing reflects the strong rental fundamentals of the area.”
In terms of unit count, the largest of the three transactions involves the previously unreported $21.5 million sale of a 99-unit property in Palisades Park. Brokered by Greg Pine and Tragash, SAGE’s co-founding partners, the property features a mix of studio, one-bedroom, and two-bedroom layouts.
According to Pine, the sale involved a complex process of assuming an existing life-insurance company mortgage. The successful execution of this transaction underscores SAGE’s expertise in navigating elaborate financing structures to ensure deal certainty for both legacy owners and institutional-caliber buyers.
In Middlesex County, SAGE Principal Eli Herskowitz arranged the $2.5 million sale of 15-35 Simplex Avenue in New Brunswick. Comprised of 20 units and a collection of smaller buildings, the disposition was part of an attorney-led estate liquidation. The assignment required specialized handling and strategic marketing to maximize value for the heirs while attracting a buyer capable of recognizing the asset’s significant value-add potential.
Capitalizing on this momentum, SAGE has also been awarded the exclusive listing for Ravenscroft Apartments, a garden-style community located at 25 Fairview Ave. in Phillipsburg, NJ. The 75-unit property features one-, two-, and three-bedroom floorplans. According to the SAGE brokerage team, this well-located community represents a significant opportunity for investors seeking scale in the
tightening Western New Jersey / Greater Lehigh Valley multifamily rental market. Additionally, Sage is currently taking offers on a 60-unit apartment-rental community in Elizabeth.
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