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Alfred Sanzari Leverages 1031 Deal to Buy Luxury Property in Cedar Grove

As seen on GlobeSt. |

Alfred Sanzari Enterprises reports it has leveraged a 1031 exchange to acquire Zephyr Ridge, a 24-unit luxury apartment here from Garrubbo Properties.

Earlier this year, Hackensack, NJ-based Alfred Sanzari Enterprises sold two garden-style apartment communities—Riverside Terrace in Bogota, NJ to the Tournambe Family and Queen Anne in Hackensack, N.J. to JC Realty—to leverage the successful 1031 exchange to facilitate the purchase of Zephyr Ridge, which is located at 2-48 Grove Ave.

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