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

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.