Spaxel Acquires Multifamily Portfolio In East Orange, NJ For $113M

An eight-property multifamily portfolio in East Orange, NJ has been sold for a total of $113,000,000. The portfolio consists of 641 units, with an average price per unit of $176,287. The properties included in the sale are located at 106, 111, 120, 158, 179, 255, 275, and 296 S. Harrison St, as well as 94 S. Harrison St and 650 Park Ave.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $113,000,000
• Units: 641
• Price Per Unit: $176,287
• Address: 106, 111, 120, 158, 179, 255, 275, 296 S. Harrison St and 94 S. Harrison St, 650 Park Ave, East Orange, NJ

Gebroe-Hammer Associates represented the buyer, Spaxel, in the transaction. Joseph Brecher, David Oropeza, and Niko Nicolaou from Gebroe-Hammer Associates acted as the brokers for the deal.