Rockwood Capital Acquires Multifamily Property In Westfield, NJ For $29.75M

A multifamily property located at 333 Central Avenue in Westfield, NJ was recently sold in a closed transaction. The sale was completed on October 12, 2021. The property, consisting of 70 units, was sold for a total price of $29,750,000, resulting in an average price per unit of $425,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $29,750,000
• Address: 333 Central Avenue, Westfield, NJ
• Market: Westfield, NJ
• Buyer: Rockwood Capital, LLC - Walter Schmidt
• Seller: Claremont Development & The Hampshire Companies - Richard Sciaretta
• Brokers: Thomas Walsh & Joseph Garibaldi - Walker & Dunlop, Inc
• Number of Units: 70
• Price per Unit: $425,000

The buyer in this transaction was Rockwood Capital, LLC, represented by Walter Schmidt. The seller, Claremont Development & The Hampshire Companies, was represented by Richard Sciaretta. The deal was facilitated by brokers Thomas Walsh and Joseph Garibaldi from Walker & Dunlop, Inc.