Morris Sarway Acquires 52-Unit Multifamily Property In Pompton Lakes, NJ For $20M

The multifamily property located at 30 Colfax Avenue in Pompton Lakes, NJ has been sold. The property consists of 52 units spread across 47,686 square feet. The sale price was $20,000,000, which translates to a per unit price of $384,615. The price per square foot for the property was $419.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $20,000,000
• Units: 52
• Price per Unit: $384,615
• Square Footage: 47,686
• Price per Square Foot: $419
• Address: 30 Colfax Avenue, Pompton Lakes, NJ
• Market: Pompton Lakes, NJ

The buyer of the property is Morris Sarway, while the seller is Avi Gagin. The broker who facilitated the transaction was Adam Zweibel from Hudson Atlantic Realty.