Berkadia Represents Seller In Sale Of Tall Tree Apartments In Jamesburg For $13M

The property asset involved in this transaction is Tall Tree Apartments, located at 175 Buckelew Avenue in the Jamesburg market. The multifamily asset consists of 68 units and was constructed in 1968. It features four garden-style all-electric buildings built on a slab foundation with semi-private entrances. Each tenant is responsible for their own separately metered electric services, which include heat, air conditioning, and hot water. The apartments available are studios, one-bedroom, and two-bedroom units, ranging in size from 450 to 750 square feet. The sale price was $13,000,000, with a total square footage of 70,000 and a price per unit (PPU) of $191,176.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $13,000,000
• Address: 175 Buckelew Avenue
• Market: Jamesburg
• Square Footage: 70,000
• Price Per Unit: $191,176
• Brokers: Trevor Fiebel, Nat Gambuzza & Nick Balancia - Berkadia

Nat Gambuzza, Trevor Fiebel, and Nick Balancia represented the seller in this transaction while also procuring the buyer. They negotiated strong terms, securing a hard contract at signing and releasing a $1,000,000 deposit to the seller.