Lisa Stefanelli & Anthony Monticello Acquire 22-Unit Multifamily Property In Bloomfield For $3.65M

The recently closed transaction involved a multifamily property located at 42 Park Ave in Bloomfield. This 22-unit apartment building was sold for a total price of $3,650,000. The property spans 13,500 square feet, resulting in a price per square foot of $270. Each unit, consisting of one and two bedrooms, offers a mix of hardwood flooring and tiled bathrooms. The building's all-brick construction, on-site laundry, and storage units add to its appeal. The property, built in 1911, is well-maintained and is within walking distance of 2 train stations.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $3,650,000
• Address: 42 Park Ave
• Market: Bloomfield

Hudson Atlantic Realty facilitated this deal, representing both the buyer and the seller. Lisa Stefanelli and Anthony Monticello were the buyers, while Park 42 Realty, LLC was the seller. The broker involved in the transaction was Adam Zweibel from Hudson Atlantic Realty. This sale marks another successful deal for Hudson Atlantic Realty in the Bloomfield area.

Bloomfield, known for its walkable downtown area, offers a vibrant mix of restaurants, shops, and the Bloomfield Train Station. The town also boasts a large park system, with some of the county's largest parks. Within a 10-minute drive are Bloomfield College, Mountainside Medical Center, and Clara Maass Medical Center. The desirable location and amenities make this multifamily property an attractive investment opportunity.

To learn more about Hudson Atlantic Realty and their other property offerings, please visit their website at www.hudsonatlanticrealty.com.