Berkadia Brokers Close $8M Multifamily Portfolio Sale In Rahway

Nat Gambuzza and Trevor Fiebel of Berkadia recently closed the sale of a two building portfolio in Rahway, New Jersey. The portfolio, located in Union County, consisted of Rahway Arts Apartments at 1636 Irving Avenue and Elm Apartments at 132-134 Elm Street. Rahway Arts Apartments is a 20-unit property that features on-site carport parking and a newly built revenue generating laundry facility with building owned equipment. Elm Apartments is comprised of 16 units, including a 7-unit, 6-unit, and a two-family building on a single lot.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $8,000,000
• SF: 36,000
• PPSF: $222
• Address: 132-134 Elm Ave and 1636 Irving Street, Rahway, New Jersey
• Market: Rahway, Union County

Nat Gambuzza and Trevor Fiebel, along with Brian Antognini, Spencer Beriont, Timothy Blashford, and Michael O'Reilly, represented Berkadia in this transaction. The team also represented the 1031 buyer on both their upleg and downleg. The deal closed successfully, with the buyer acquiring both the Rahway Arts Apartments and Elm Apartments as part of a two building portfolio.