The property involved in this closed transaction is a multifamily asset located at 345 Clements Bridge and 424 Black Horse Pike in Runnemede, South Jersey. The property consists of 40 units, with a sales price of $2,650,000, resulting in a price per unit of $66,250. The total square footage of the property is 29,080, and the price per square foot is $91.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $2,650,000
• Address: 345 Clements Bridge & 424 Black Horse Pike, Runnemede
• Market: South Jersey

Isaac Sebbag and Amanda Sokol of Golden Sky Equities acted as the buyers in this transaction. The sellers were KDS Associates. Isaac Sebbag and Amanda Sokol, in partnership with Golden Sky Equities, sourced this off-market 40-unit value-add deal in South Jersey. The property was delivered with over 25% vacancy, providing an immediate opportunity for renovation and rent increases.

Jamie Barrett and Chris Fleming of Acrewood Holdings played a role in the transaction by providing the equity and debt, which included a $1 million construction budget.