Golden Sky Portfolio Acquires 34-Unit Multifamily Portfolio In Roselle & New Brunswick For $4.77M

A portfolio of three all brick buildings in Central Jersey has been sold in a recent transaction. The properties are located at 234 Walnut St., 261 French St., and 75 Jersey Ave. The multifamily portfolio offers a total of 34 units, with an average price per unit of $140,441. The total square footage of the buildings is 7,500, and the price per square foot is $637. The transaction took place in the Roselle and New Brunswick markets, with the sale price amounting to $4,775,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $4,775,000
• Units: 34
• Price Per Unit: $140,441
• Square Footage: 7,500
• Price Per Square Foot: $637
• Market: Roselle & New Brunswick

The buyer of the portfolio is Golden Sky Portfolio, represented by Isaac Sebbag. The seller is Montium. The lender involved in the transaction is Brook Hollow Capital, with Jonathan Hasten serving as the representative. The buyer notes that the portfolio presents a value-add opportunity, with nearly 25% of the units currently vacant. Golden Sky Equities, the buyer, has displayed a focus on purchasing construction and renovation projects with similar characteristics in NJ and the Miami FL areas.