Maya Capital Acquires MultiFamily In Union City From Veerman Asset Management & Berkadia

An 80-unit apartment building located at 123 44th St in Union City, NJ, 07087, known as One23, was recently sold for $31.25 million. The property, built in 2018, is one of the newest non-waterfront properties in Hudson County and was fully leased at the time of the transaction.

Summary of transation details:

• Property Type: MultiFamily
• Transaction Amount: $31,250,000.00
• Market: Union City
• Seller's Representative: Manveer "Manny" Sanghera (Veerman Asset Management), Nat Gambuzza (Berkadia)
• Buyer: Maya Capital

Maya Capital, a New York City-based real estate group, acquired the property from the seller's representatives, Nat Gambuzza and Manny Sanghera. The sale highlights the growing interest of out-of-state investors in existing and stabilized new apartment buildings in Hudson County. The area's demographics and the affordability compared to neighboring cities like New York City, Brooklyn, and Jersey City make it an attractive investment option for buyers.