Justin Square LLC Purchases 58-Unit Multifamily Property At 223 Prospect Street For $7.95M

A 58-unit garden-style multifamily property located at 223 Prospect Street in East Orange, NJ was sold for $7,950,000. The transaction was facilitated by ICON Real Estate Advisors, with the property market value reflecting a price per unit of $137,069.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $7,950,000
• Units: 58
• Price Per Unit: $137,069
• Buyer: Justin Square LLC
• Seller: MCM Associates LLC
• Brokers: David Oropeza & David Jarvis - ICON Real Estate Advisors

The deal was structured by David Oropeza and David Jarvis, who represented ICON Real Estate Advisors in this transaction. MCM Associates LLC acted as the seller of the property, while Justin Square LLC was the buyer, marking a significant transaction in the East Orange market.