Updated Aug 29, 2025
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
About this deal
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.
On the Map
$2,800,000
$140/SF
MultiFamily
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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