Berkadia Brokers Facilitate $4.8M Sale Of Multifamily Property In Elizabeth, NJ

The Marlaw Apartments, a 36-unit garden-style multifamily property located at 32-44 Stiles Street in Elizabeth, New Jersey, was sold for $4.8 million at a 4.9 percent cap rate. The property spans 36,000 square feet, translating to a per unit price of $133,333 and a price per square foot of $133.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $4,800,000
• Units: 36
• Price per Unit: $133,333
• Square Footage: 36,000
• Price per Square Foot: $133
• Market: Elizabeth, NJ
• Brokers: Nat Gambuzza, Nick Balancia, Trevor Fiebel & Timothy Blashford - Berkadia

The sale of Marlaw Apartments was facilitated by Senior Managing Director Nat Gambuzza, Senior Director Trevor Fiebel, Director Tim Blashford, and Nick Balancia Associate Director of Berkadia New Jersey on behalf of both the seller and purchaser. At the time of the transaction, the property was fully occupied, further emphasizing its appeal and value in the market.