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
Newark MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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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