Dr. Adam Madda Purchases Development Site From Martin Echavar In West New York For $1.2M

This transaction involved a development site located at 6212 Madison Street in West New York, which was sold for $1,200,000. The property encompasses 21,654 square feet, resulting in a price per square foot of $55. It is approved for the construction of a 15-unit residential multifamily development.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $1,200,000
• Sale Date: 12/13/2024
• Buyer: Dr. Adam Madda
• Seller: Martin Echavar
• Broker: Gershon Adjaye - Keller Williams Realty

The sale was handled by Gershon Adjaye from Keller Williams Realty, who represented the transaction. This was an off market sale, indicating exclusiveness in the opportunity for potential buyers. The agent notes that there are additional off market approved land sites available, ranging from 15 to 198 units in both Northern NJ and Miami Dade County.