Blue Asset Management LLC has recently closed on a multi-family building in Weehawken, New Jersey, according to Charles Blumenkehl, managing partner for Blue Asset Management.
According to Blumenkehl, “Weehawken, in its close proximity to New York City and the Lincoln Tunnel, combined with a great school system, is a mecca for New York commuters who want to enjoy the city life without living in the middle of it. The town is well maintained, well managed, and provides some of the greatest up-close views of Manhatten across the Hudson you could ever see from our location.”
Blumenkehl and his companies have been purchasing properties throughout northern New Jersey and said his company is looking to increase their holdings an additional 25% in the coming year. "We view the current economic environment as an opportunity to acquire properties that wouldn’t have made financial sense to us before the downturn. We are optimistic about the financial future and stability of our country and in particular in the area surrounding New York City, the world capital for commerce. Charles Blumenkehl said. Blumenkehl predicts he will complete the renovation of theGregory Ave property and have it back on the rent rolls buy the end of the first quarter of 2011."
Blue Asset Management was founded by Charles Blumenkehl in 2008 to leverage the opportunities resulting from the mortgage and liquidity meltdown that began a few years ago. For more information about Blue Asset Management LLC or Charles Blumenkehl log onto the company website at www.blueassetmanagementllc.com.