Jay Weissman Purchases 38 Unit Multifamily Development From Bobby Walter In Netcong For $10.8M

This transaction involved a multifamily asset located at 1 Jenny Lind Street in the market of Netcong. The sale price was $10,800,000 for a total of 39,037 square feet, resulting in a price per square foot of $276. The property consists of 38 units, equating to a price per unit of $284,210. This development is a 55+ age restricted community, constructed in 2002.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $10,800,000
• Address: 1 Jenny Lind Street
• Market: Netcong
• Units: 38
• Price Per Unit: $284,210
• Square Footage: 39,037
• Price Per Square Foot: $276
• Buyer: Jay Weissman
• Seller: Bobby Walter
• Broker Representatives: Adam Zweibel & Dante Fusaro - Hudson Atlantic Realty

Adam Zweibel and Dante Fusaro from Hudson Atlantic Realty represented the broker side of the transaction. This sale reflects the ongoing activity in the multifamily market, particularly within age-restricted developments.