Deena Greenbaum Sells South Orange Multifamily Property For $4.1M With Berkadia's Nat Gambuzza & Tim Blashford

A 21-unit multifamily property in South Orange, New Jersey has been sold for $4,100,000. The property, located at 123 Milligan Place, offers a total of 9,600 square feet of space. The sale price per unit was $195,238, and the price per square foot was $427. Situated in Essex County, the property is conveniently within walking distance of downtown South Orange's numerous restaurants, bars, and retailers. This acquisition is a valuable addition to the buyer's growing portfolio in the immediate area. The asset was secured by Berkadia, who negotiated with the buyer to offer a price above the listing and remove all contingencies.

Summary of transaction details

• Property Type: Multifamily
• Sale Price: $4,100,000
• Units: 21
• Price per Unit: $195,238
• Square Footage: 9,600
• Price per Square Foot: $427
• Address: 123 Milligan Place
• Market: South Orange

Nat Gambuzza and Tim Blashford of Berkadia represented the seller, Deena Greenbaum, in this transaction. Their extensive knowledge and experience in the local market enabled them to successfully close the deal. The buyer was attracted to the property due to its strategic location and potential for growth. The brokers worked diligently to negotiate with the buyer, ultimately securing the asset by offering above the asking price and removing all contingencies.