Jason Ellison's Carlton House Fl, LLC Acquires Multifamily Property In Madison For $14.7M

Tudor House Apartments in Madison, New Jersey has been sold for $14,700,000. The property, located at 39 Green Village Road, is a multifamily asset consisting of 26 luxury apartments. Each unit was sold at an average price of $565,385. Built in 2015, Tudor House Apartments features a classic Tudor-style building with amenities such as garage parking and in-unit laundries.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $14,700,000
• Number of Units: 26
• Price per Unit: $565,385

Hudson Atlantic Realty represented the buyer, Jason Ellison from Carlton House Fl, LLC, and the seller, Mark Yeager from MRY Associates, LLC. The brokers involved in this successful transaction were Adam Zweibel and Nicholas Favorito from Hudson Atlantic Realty. Adam Zweibel, the managing partner of the firm, emphasized the record-setting price and pace at which the sale closed, despite challenging financial circumstances. Nicholas Favorito, a sales agent with Hudson Atlantic, also played a key role in the transaction.

This sale marks another achievement for Hudson Atlantic Realty, following a successful year in 2022 with over $293 million in closings and 1,300+ apartment units. The firm's understanding of market dynamics and targeted marketing plan allowed them to swiftly deliver results for their clients. Jeffrey Otteau, the managing broker of Hudson Atlantic Realty, commended the team's ability to close deals efficiently.