Advance Realty Acquires Multifamily Community From AION Partners For $20.25 Million In Maplewood

The asset involved in this transaction is a multifamily property located at 125 Dunnell Road in Maplewood, New Jersey. The property consists of 50 units and spans 66,000 square feet. It was sold for $20,250,000, resulting in a price per unit of $405,000 and a price per square foot of $306.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $20,250,000
• Units: 50
• Square Footage: 66,000
• Price Per Unit: $405,000
• Price Per Square Foot: $306
• Buyer: Advance Realty
• Seller: AION Partners
• Broker: Thomas Walsh, Joseph Garibaldi, Nick Vanderslice & Katelyn Borovsky - Colliers
• Date: 4/22/2025
• Market: Maplewood

The transaction was facilitated by a team from Colliers, specifically Joseph Garibaldi, Thomas Walsh, Nick Vanderslice, and Katelyn Borovsky, who represented AION Partners in this deal. This sale marks their third transaction involving the asset since its completion.