Blue Diamond Equities Acquires Fort Lee Multifamily For $51.75M

Blue Diamond Equities has acquired a multifamily property located at 2055 Center Ave in Fort Lee. The transaction, which took place on June 17, 2022, was facilitated by Cushman & Wakefield brokers Niko Nicolaou, Brian Whitmer, Ryan Dowd, and Will Gerlin. The property consists of 128 units with a total square footage of 123,215. The sale price of the property was $51,750,000, resulting in a price per unit of $404,296 and a price per square foot of $420.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $51,750,000
• Address: 2055 Center Ave
• Market: Fort Lee
• Brokers: Niko Nicolaou, Brian Whitmer, Ryan Dowd, and Will Gerlin - Cushman & Wakefield
• Total Units: 128
• Price per Unit: $404,296
• Total Square Footage: 123,215
• Price per Square Foot: $420

The acquisition of the multifamily property was successfully executed by Blue Diamond Equities with the assistance of the Cushman & Wakefield brokers, Niko Nicolaou, Brian Whitmer, Ryan Dowd, and Will Gerlin. The deal reflects a significant investment in the Fort Lee market, showcasing the strong demand for multifamily properties in the area.