facebook

traded

+ Submit
Home

/

Deals

/

New Jersey

/

Multifamily

/

Sale

/

136 142 Fleming Avenue

Berkadia Represents Seller In $2.8M Multifamily Sale Of 18 Units In Newark New Jersey
SOLDMultiFamily

Berkadia Represents Seller In $2.8M Multifamily Sale Of 18 Units In Newark New Jersey

136 142 Fleming Avenue

$2,800,000

$140/SF

Building Size

20,000 SF

Asset Type

MultiFamily

Closing

Jun 8, 2025

AI

The property asset involved in this transaction is an 18-unit multifamily property located at 136-142 Fleming Avenue in Newark, New Jersey. The sale price of the asset was $2,800,000, which translates to a price per unit of $155,555. The property encompasses a total square footage of 20,000, yielding a price per square foot of $140.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,800,000
  • Units: 18
  • Price Per Unit: $155,555
  • Square Footage: 20,000
  • Price Per Square Foot: $140
  • Market: Newark
  • Address: 136-142 Fleming Avenue
  • Brokers: Nat Gambuzza & Tim Blashford - Berkadia

Nat Gambuzza and Tim Blashford represented the seller and procured the buyer in this off-market transaction. The buyer was interested in this asset to scale their portfolio in the bustling Ironbound section of Newark, located in Essex County.

Players

Nat Gambuzza

Berkadia

Broker

$917.5M

vol

74 deals

Broker
Berkadia
BerkadiaBrokerage

Newark MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.67%

Cash-on-Cash

-1.62%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93