Berkadia Represents Sale Of 13-Unit Multifamily Property In Irvington For $1.875M

A 13-unit multifamily property located at 101-107 West Grove Terrace in Irvington, New Jersey, has closed at a price of $1,875,000. The total square footage of the asset is 130,000, and it has a price per unit of $144,231, and a price per square foot of $14. The property is situated in Essex County, near the Garden State Parkway and just south of Valisburg Park.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $1,875,000
• Units: 13
• Square Footage: 130,000
• Price Per Unit: $144,231
• Price Per Square Foot: $14
• Brokers: Nat Gambuzza & Timothy Blashford - Berkadia

Nat Gambuzza and Timothy Blashford represented the seller and procured the buyer in this on-market transaction. The buyer aimed to add scale to their portfolio in the area and plans to implement a value-add strategy by renovating the units upon turnover.