Shakil Khan Purchases Multifamily Property At 1306 New York Avenue For $2.65 Million

This multifamily asset located at 1306 New York Avenue in Union City was sold for $2,650,000. The property encompasses 10,000 square feet, equating to a price per square foot of $265. The transaction represents a significant achievement, recording a price of $203,846 per unit for a rent-controlled property in the area.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $2,650,000
• Square Footage: 10,000
• Price per Square Foot: $265
• Buyer: Shakil Khan
• Seller: Isaiah Thompson
• Broker: Jonathan Zamora - Marcus & Millichap
• Units Sold: 13
• Sale Type: As-is, non-contingent with 5% hard deposit
• Closing Period: 30 days

Jonathan Zamora from Marcus & Millichap represented the ownership in this transaction. This marks the third sale of this property, highlighting the team's expertise in the multifamily market. For property owners and investors assessing acquisition or disposition opportunities, engagement with the brokerage team is encouraged.