Jiminez Family Acquires Multifamily Property On Anderson Ave In Cliffside Park For $6.5M

The sale of 420 Anderson Avenue in Cliffside Park marked a significant milestone, as it achieved the highest Price Per Unit (PPU) sale in the history of the neighborhood. The property, classified as a multifamily asset, was sold for a total price of $6,500,000. This equates to a PPU of $433,333, based on its 15 residential units. The property spans a total area of 35,093 square feet, resulting in a Price Per Square Foot (PPSF) of $185. The address of the property is 420 Anderson Ave, Cliffside Park.

Summary of transaction details:

• Property Type: Multifamily
• Sale Price: $6,500,000
• Units: 15
• Price Per Unit: $433,333
• Square Footage: 35,093
• Price Per Square Foot: $185

The buyer for this transaction was the Jiminez Family, while Premier Developers served as the seller. Facilitating the deal was broker Manveer "Manny" Sanghera from Veerman Asset Management. The brokerage agency played a crucial role in this transaction as it represented both the buyer and the seller. Veerman Asset Management, led by CEO Manveer Sanghera, has a strong track record in the real estate market with over $100M in assets closed or under contract within their first year of operation.

It is worth noting that the sale of 420 Anderson Avenue was completed in an impressively quick timeframe of under 90 days from the initial signing of the Letter of Intent (LOI). The transaction showcases the efficiency and effectiveness of Veerman Asset Management in successfully closing real estate deals. For more information about Veerman Asset Management, please visit their website at www.VAMFinancials.com.