Khosla Capital LLC And DKJ Equity LLC Acquire Multifamily Property In Hackensack, NJ For $114.5M

The multifamily property located at 300 Prospect Ave in Hackensack, NJ was recently sold in a transaction. The property spans approximately 428,040 square feet and is categorized as a multifamily asset. The sale took place on 04/28/2021.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $114,450,000
• Address: 300 Prospect Ave, Hackensack, NJ
• Market: Hackensack, NJ

The buyer, Khosla Capital LLC represented by Raman Khosla & DKJ Equity LLC, acquired this property from the seller, Kushner Companies represented by Laurent Morali. The sale was facilitated by the brokerage firm JLL Capital Markets, with Jose Cruz, Steve Simonelli, Kevin O’Hearn, Michael Oliver, J.B. Bruno, and Michael Kavanagh acting as the brokers in the deal.

The property consists of 360 units, and the sale price translates to an average price per unit of approximately $317,917. The price per square foot is calculated to be $267.