Berkadia Brokers Close $34M Sale Of Multifamily Complex In Seaford, Delaware

The Villages at Stoneybrook, a multifamily property located at 23033 Meadow Wood Court in Seaford, Delaware, has been sold for $34,000,000. The property consists of 192 units, with an average price per unit of $177,083. The total square footage of the complex is 192,000, resulting in a price per square foot of $177.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $34,000,000
• Address: 23033 Meadow Wood Court, Seaford, Delaware
• Market: Seaford, Delaware

Nat Gambuzza and Trevor Fiebel of Berkadia represented the sellers and facilitated the transaction. The Villages at Stoneybrook is a garden-style complex consisting of nine buildings constructed in 2012 on a 15-acre parcel. The community features various amenities, including an in-ground pool, a clubhouse with a fitness center, a playground, and off-street surface parking. The units are three-story walk-ups with Formica countertops, black appliances, oak cabinets, and a mix of laminate and carpet flooring.

It is worth noting that the buyer is a New Jersey-based investment firm, while the seller was represented by the New Jersey Berkadia Team. This transaction highlights the trend of northern New Jersey capital being invested in out-of-state locations for more profitable opportunities. The Berkadia Team has achieved record pricing for their out-of-state clients, further supporting this investment flow.