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47 Union Street

Updated Jan 23, 2026

Berkadia Sells 25-Unit Multifamily Building At 47 Union Street Montclair For $7.57M
SOLDMultiFamily

Berkadia Sells 25-Unit Multifamily Building At 47 Union Street Montclair For $7.57M

47 Union Street

$7,570,000

Units

25

Asset Type

MultiFamily

Closing

Jan 22, 2026

About this deal

AI

47 Union Street is a pre-war multifamily building located in Montclair, N.J. The property consists of 25 units and was sold for $7,570,000, equivalent to $302,800 per unit. At the time of the sale, the occupancy rate was 96%, and the transaction reflected a cap rate of 5.92%. The seller had acquired the asset in 2018 and had increased its value through renovations.

Summary of transation details:

  • Property Type: Multifamily
  • Transaction Amount: $7,570,000
  • Units: 25
  • Price Per Unit: $302,800
  • Cap Rate: 5.92%
  • Occupancy Rate at Sale: 96%

The transaction involved brokers Nat Gambuzza and Tim Blashford, representing Berkadia. Their efforts focused on showcasing the demand for well-located, upgraded multifamily assets within the Montclair market.

On the Map

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$7,570,000

MultiFamily

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Players

Nat Gambuzza

Berkadia

Broker

$944.6M

vol

76 deals

Broker

Montclair MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $302.8K per unit across 25 units on a published $7.6M (2026).

Visit Timothy (Tim) Blashford to view all their deals.

Browse Montclair multifamily sales on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.10%

Cash-on-Cash

-0.60%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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