Updated Jan 30, 2026
Berkadia Represents Seller In Closing Multifamily Portfolio Sale In Newark With 54 Units
49 51 Hill Street & 89 93 Milford Avenue
Building Size
25,000 SF
Asset Type
MultiFamily
Closing
Nov 19, 2025
About this deal
AI
The property involved in this transaction is a multifamily asset located at 49-51 Hill Street & 89-93 Milford Avenue in Newark, NJ. This mixed-use portfolio consists of 54 units with a total square footage of 50,000. The asset was marketed successfully and went under contract within a short time frame.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: Not specified
- Units: 54
- Square Footage: 50,000
- Address: 49-51 Hill Street & 89-93 Milford Avenue
- Market: Newark
- Brokers: Nat Gambuzza & Timothy Blashford - Berkadia
Nat Gambuzza and Tim Blashford represented the seller and procured the buyer in this transaction. The buyer sought to enhance their portfolio's scale in the greater Northern NJ market and plans to implement a value-add strategy by renovating units upon turnover.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.16%
Cash-on-Cash
-0.62%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93