Ryan Goldstein Of Invel Capital And Stephen Quazzo Of Pearlmark Real Estate Acquire Mixed-Use Asset In West Orange For $40.8M

555 Northfield Avenue is a mixed-use asset located in West Orange, NJ, featuring a total of 70 units. The property encompasses both residential and two commercial spaces. It was sold for $40.8 million, with a price per unit calculated at $582,857.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $40,800,000
• Units: 70
• Price Per Unit: $582,857
• Buyer: Ryan Goldstein - Invel Capital; Stephen Quazzo - Pearlmark Real Estate
• Brokers: Michael Oliver, Steve Simonelli, Jose Cruz, Ryan Robertson, Elizabeth DeVesty & Austin Pierce - JLL
• Mortgage Brokers: Michael Klein & Gerard Quinn - JLL

Invel Capital and Pearlmark Real Estate successfully acquired the property located at 555 Northfield Avenue. JLL Capital Markets facilitated both the brokerage and financing arrangements for this transaction, while Vinyl Real Estate Management is slated to manage operations under the new ownership.