Patrick McTigue Acquires Multifamily Property From Gloriana Bussanich In Fort Lee For $16.8M

The multifamily property located at 1435 10th Street in Fort Lee was sold for $16,800,000. The asset encompasses 60,000 square feet and comprises 30 units, resulting in a price per unit of $560,000 and a price per square foot of $280.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $16,800,000
• Buyer: Patrick McTigue
• Seller: Gloriana Bussanich
• Broker: Manveer "Manny" Sanghera - Veerman Asset Management
• Units: 30
• Square Feet: 60,000
• Price Per Unit: $560,000
• Price Per Square Foot: $280

Manveer "Manny" Sanghera, Principal of Veerman Asset Management, represented the transaction and expressed satisfaction in closing this significant deal, highlighting its role in setting a new pricing standard in the Fort Lee market. The buyers have expanded their portfolio into New Jersey with this acquisition, marking their first multifamily property purchase in the state.