SYM Investments Acquires Multifamily Asset At 23 University Place Boulevard For $121M

The property asset involved in this transaction is a multifamily development located at 23 University Place Boulevard in Jersey City. The sale price was $121,000,000, with a total of 362 units available. The overall square footage of the asset is 255,768, and the price per unit amounts to $334,254, with a price per square foot of $473.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $121,000,000
• Units: 362
• Square Footage: 255,768
• Price Per Unit: $334,254
• Price Per Square Foot: $473
• Buyer: SYM Investments
• Seller: The Hampshire Companies & Claremont Development
• Brokers: Niko Nicolaou, Ryan Dowd, Peter Welch & Alexandria Ebers - Cushman & Wakefield
• Date of Transaction: 12/19/2024

The deal involved key representatives from Cushman & Wakefield, with Niko Nicolaou, Ryan Dowd, Peter Welch, and Alexandria Ebers facilitating the transaction. This transaction marks a significant partnership between SYM Investments and The Hampshire Companies along with Claremont Development, showcasing their collaboration within the Jersey City market.