Invel Capital Acquires 41 West Prospect Street Multifamily In Waldwick For $39 Million

The property asset is located at 41 West Prospect Street in Waldwick, identified as a multifamily asset. The sale price of the property was $39,000,000, consisting of 110 units. The total square footage of the building is 98,045, with a price per unit of $354,545 and a price per square foot of $397.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $39,000,000
• Units: 110
• Square Feet: 98,045
• Price Per Unit: $354,545
• Price Per Square Foot: $397
• Buyer: Invel Capital
• Seller: Russo Development
• Brokers: Niko Nicolaou, Ryan Dowd, Peter Welch - Cushman & Wakefield; Brian Whitmer - RePropCo
• Date of Transaction: 01/27/2025

The transaction involved key representatives in the brokerage sector, including Niko Nicolaou, Ryan Dowd, and Peter Welch from Cushman & Wakefield, alongside Brian Whitmer from RePropCo. Their contributions were integral to facilitating the successful completion of this multifamily property transaction.