The two-building portfolio located in Linden, New Jersey has been successfully sold. The portfolio consists of 104 Luttgen Avenue, which comprises 8 units originally built as condominiums in 2008, and 415 E Elm Street, a two-story walk-up constructed in the 1930s. The sale price for this multifamily property was $3,150,000, with each unit valued at $196,875. The total square footage of the portfolio is approximately 15,000 square feet, resulting in a price per square foot of $210. The transaction took place in the Linden market of Union County.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $3,150,000
• Units: 16
• Price per Unit: $196,875
• Total Square Footage: 15,000
• Price per Square Foot: $210
• Address: 104 Luttgen Avenue & 415 E Elm Street
• Market: Linden

Berkadia represented the seller in this transaction. The buyer, who was engaged in a 1031 exchange, was also represented by the Berkadia team on both their upleg and downleg. The sale of this two-building portfolio marks another successful deal for Nat Gambuzza and Trevor Fiebel, who facilitated the transaction.