Cushman & Wakefield Brokers $2.9M Sale Of Mixed-Use Property On Springfield Avenue In Summit

A downtown Summit property located at 351-353 Springfield Avenue has been sold for a price of $2,850,000. The mixed-use property features two leased storefronts, three apartments, and a three-car garage. The prime location of the building along the bustling Springfield Avenue retail corridor in Summit, New Jersey, made it an attractive investment opportunity. The deal was brokered by Andre Balthazard, Andrew Schwartz, Daniel Bottiglieri, and Jordan Sobel from Cushman & Wakefield.

Summary of transaction details

• Property Type: Mixed-use
• Transaction Amount: $2,850,000
• Units: 5
• Price Per Unit: $570,000

The sale of the downtown Summit property was facilitated by the expertise of Andre Balthazard, Andrew Schwartz, Daniel Bottiglieri, and Jordan Sobel from Cushman & Wakefield. Their representation ensured a successful transaction, emphasizing the prime location and potential of the property along the Springfield Avenue retail corridor. The property attracted buyers due to its mixed-use nature, which includes two leased storefronts, three apartments, and a three-car garage.