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SOLD

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

39 green village road

MultiFamily
clock iconSold 1 year ago
Nicholas Favorito
Adam Zweibel
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Summary

Sale
NEW JERSEY
MultiFamily

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.

Players

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Nicholas Favorito's profile picture
Nicholas Favorito
Hudson Atlantic Realty-image
Associate
$44.4M Sold
Adam Zweibel's profile picture

Details

Deal Summary
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SOLD
IMAGE: Adam Zweibel & Nicholas Favorito DATE: 01/09/2023 ADDRESS: 39 Green Village Road MARKET: Madison ASSET TYPE: Multifamily BUYER: Jason Ellison - Carlton House Fl, LLC SELLER: Mark Yeager - MRY Associates, LLC BROKERS: Adam Zweibel (@Adamzweibel) & Nicholas Favorito (@Nickfavorito) - Hudson Atlantic Realty (@HudsonAtlantic) SALE PRICE: $14,700,000 UNITS: 26 ~ PPU: $565,385 NOTE FROM BROKERS: Hudson Atlantic Realty is proud to announce the successful closing of Tudor House Apartments in Madison, New Jersey for $565,000 per unit. Built in 2015, this exceptional property included 26 luxury apartments in a classic Tudor-styled building with garage parking and in-unit laundries. Adam Zweibel, the firm’s managing partner noted, “closing this sale at a record setting price and pace within only 5-weeks of being exclusively listed demonstrates that deals can get done despite today’s challenging financial circumstances.” Nicholas Favorito, a sales agent with Hudson Atlantic, also participated on the transaction team. The closing of this sale follows Hudson Atlantic’s successful first year of operation in 2022 with $293 million in closings spanning 1,300+ apartment units. Jeffrey Otteau, the firm’s Managing Broker added “our deep understanding of market dynamics together with a surgically targeted marketing plan enabled us to deliver quickly on behalf of our client”.

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