Real Estate Company Purchases Hillsborough Towers

Brooklyn-based real estate company Elias Mallouk Realty Corporation announced it has purchased Hillsborough's Claremont Towers.

The company, which owns and operates rental properties in New York and New Jersey, made the announcement in a press release touting the towers' "panoramic, unobstructed views of quiet Hillsborough" and "easy access to shopping, schools, transportation, local business and houses of worship."

"My grandfather believed in buying middle income family apartments and providing exceptional service," Jeff Mallouk, one of the partners of EMRC, said. "We certainly had the opportunity to deviate from that concept throughout the years, but we have stayed true to my families' traditions. We are excited about moving our business into New Jersey as the economic climate of this state is just exceptional."

Building Manager Cheryl Chambers said the area near the apartment building offers "a wonderful combination of heritage, architecture and unimaginable shopping all imbued in a culture of small-town friendliness." 

"It’s funny, our company slogan says it all: a place to call home," she added.

The sale includes all three buildings, which have recently remodeled and updated one- and two-bedroom apartments. Chambers said the buildings are currently fully leased.

"We're doing very well, knock on wood," she said.

Details on the sale were not available.