Mitchell Hammer & Marc Fried Of River Rock Capital Acquire Multifamily Asset In Belleville For $55.5M

The Essex is a multifamily property located at 100 Washington Avenue in Belleville, New Jersey. The property consists of 158 units and was sold for $55.5 million. The asset, which was built in 2024, features 10,000 square feet of retail space and extensive amenities.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $55,500,000
• Units: 158
• Price Per Unit: $351,266
• Buyer: Mitchell Hammer & Marc Fried
• Buyer's Company: River Rock Capital
• Seller: Peter Tiflinsky
• Seller's Company: Premier Developers
• Lender: Freddie Mac
• Loan Provider: CBRE Capital Markets
• Loan Amount: $35,500,000
• Loan Maturity: 2032

The transaction involved key players, including Mitchell Hammer and Marc Fried representing River Rock Capital as the buyers of the property from Peter Tiflinsky of Premier Developers. Freddie Mac provided the financing through CBRE Capital Markets for the acquisition, ensuring a smooth completion of the deal.