SOLD
Berkadia Brokers Close $8M Multifamily Portfolio Sale In Rahway
132-134 Elm Avenue & 1636 Irving Street
MultiFamily
36,000 SF
36,000 SF
Sold 1 year ago
Summary
Sale
NEW JERSEY
MultiFamily
36,000 sqft
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.
Players
All
7
Agents
6
Agencies
1
Details
SOLD
IMAGE: Nat Gambuzza & Trevor Fiebel
DATE: 06/30/2022
ADDRESS: 132-134 Elm Ave and 1636 Irving Street
MARKET: Rahway
ASSET TYPE: Multifamily
BROKERS: Nat Gambuzza (@NatGambuzza), Trevor Fiebel (@TrevorTrevv), (@TrevorFiebel), Brian Antognini (@BrianAntognini), Spencer Beriont (@SpencerBeriont), Timothy Blashford (@TimothyBlashford) & Michael O'Reilly (@MichaelO'Reilly) - Berkadia
SALE PRICE: $8,000,000
SF: 36,000 ~ PPSF: $222
NOTE FROM BROKERS: JUST CLOSED
RAHWAY ARTS & ELM APARTMENTS
36 UNITS
UNION COUNTY
• Sale Price of $8,000,000
• $222,000 Per Apartment
• Two Building Portfolio
• Package Consisted of:
o Rahway Arts Apartments (20 Units)
o Elm Apartments (16 Units)
1031 Buyer represented on both his upleg and downleg
Nat Gambuzza and Trevor Fiebel are pleased to announce the closing of a two building portfolio in Rahway, New Jersey. The Union County portfolio included Rahway Arts Apartments at 1636 Irving Avenue and Elm Apartments at 132-134 Elm Street. Rahway Arts is comprised of 20 apartments with on-site carport parking and a newly built revenue generating laundry facility with building owned equipment. Elm Street consisted of a 16 apartments comprised of 7-unit, 6-unit, and a two-family building on a single lot. The Berkadia team represented the seller along with the 1031 buyer on both his upleg and downleg.View on map
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Address132-134 Elm Avenue & 1636 Irving Street
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