Fahri Ozturk, Richard Gatto, And David Ferber Acquire Multifamily Property In Jersey City For $12M

Located in Jersey City, the multifamily property at 109-111 Garrison Ave & 64-70 Baldwin Ave has recently been sold in a closed transaction. The sale took place on 03/05/2021, with a sale price of $12,000,000. The property consists of 82 units, resulting in a per unit price of $146,341. The occupancy at the time of sale was 50%. The property offers a potential return on investment with a cap rate of 2.30%.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $12,000,000
• Address: 109-111 Garrison Ave & 64-70 Baldwin Ave, Jersey City
• Market: Jersey City
• Units: 82
• Price per Unit: $146,341
• Cap Rate: 2.30%
• Occupancy at Sale: 50%

The sale of this property was facilitated by the brokers Fahri Ozturk, Richard Gatto, and David Ferber, CPA. Representing their respective agencies, they played a crucial role in the successful transaction. The buyers and sellers were able to rely on their expertise and guidance throughout the process.