Updated Jul 1, 2026
Morristown Multifamily Property Sold For $13.25M With Brokers Nat Gambuzza & Spencer Beriont
10 Ford Avenue
$13,250,000
$331/SF
Building Size
40,000 SF
Asset Type
MultiFamily
Closing
May 20, 2026
About this deal
AI
The property asset involved in this transaction is a multifamily building located at 10 Ford Avenue in the Morristown market. The sale price for the property was $13,250,000, and it contains 37 units. The total square footage of the asset is 40,000, which translates to a price per unit of $358,108 and a price per square foot of $331.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $13,250,000
- Units: 37
- Square Footage: 40,000
- Price Per Unit: $358,108
- Price Per Square Foot: $331
The individuals involved in this deal include brokers Nat Gambuzza and Spencer Beriont, representing Berkadia. Their expertise facilitated the transaction in the multifamily sector.
On the Map
$13,250,000
$331/SF
MultiFamily
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Players
Market MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.20%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93