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Township Of Edison Acquires Development Site In South Edison For $12.75M

Property Image
SOLD
$12,750,000
Noa Shemtov
TM
Matt Einheber

New Jersey

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Development Site378,972 SF
Sold 01/31/2024
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Property Image
SOLD

Township Of Edison Acquires Development Site In South Edison For $12.75M

41 Glendale Avenue

See Similar Deals
Development Site378,972 SF
Sold 01/31/2024
Noa Shemtov
TM
Matt Einheber
the dealplayerscompscontact
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Summary

NEW JERSEY
Asset Type:Development Site
Price Per Square Foot:$33
Total Square Footage:378,972 SF
Transaction Type:Sale

The Township of Edison has acquired a development site located at 41 Glendale Avenue in Edison. The property spans 378,972 square feet and was sold for $12,750,000, equating to a price per square foot of $34.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $12,750,000
  • Address: 41 Glendale Avenue
  • Market: Edison
  • Square Footage: 378,972

Noa Shemtov, Tal Marciano, and Matt Einheber from TitleEQ facilitated the deal between the Township of Edison and the seller. The acquisition was influenced by the cancellation of a warehouse project, prompting the township to focus on enhancing the quality of life for residents, particularly due to concerns over increased truck traffic in the area. Mayor Joshi expressed optimism about the acquisition of this waterfront property in Central Jersey.

Players

Noa Shemtov
TitleEQ
Noa Shemtov
1 deal$12.8M volume(786) 485-0366
BROKER
TM
TitleEQ
Tal Marciano
1 deal$12.8M volume
BROKER
Matt Einheber
TitleEQ
Matt Einheber
1 deal$12.8M volume
BROKER

Details

SOLD
IMAGE: Noa Shemtov & Matt Einheber DATE: 01/31/2024 ADDRESS: 41 Glendale Avenue MARKET: Edison ASSET TYPE: Development Site BUYER: Township Of Edison BROKER: Noa Shemtov, Tal Marciano (@Talmor93) & Matt Einheber - TitleEQ (@TitleEQ) SALE PRICE: $12,750,000 SF: 378,972 ~ PPSF: $34 NOTE FROM BROKERS: Deal closed with TitleEQ. The township of Edison just purchased this South Edison property. This move follows the cancellation of a warehouse project due to opposition from residents concerned about increased truck traffic in their neighborhood. Mayor Joshi views the property acquisition as the beginning of efforts to enhance residents’ quality of life. “It is very rare for such a piece of prime property along a waterfront to become available in Central Jersey.

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