Updated Oct 27, 2026
Myron Rosenstein Acquires Multifamily Property From Abe Weinberg For $14 Million In Belleville
550 Washington Avenue
$14,000,000
$247/SF
Building Size
56,670 SF
Asset Type
MultiFamily
Closing
Oct 23, 2026
About this deal
AI
The property involved in this transaction is a multifamily asset known as Washington Heights, located at 550 Washington Avenue in Belleville, NJ. The sale price was $14,000,000, encompassing 66 residential units. The total square footage of the property is 56,670, resulting in a price per unit of $212,121 and a price per square foot of $247. The property features three 3-story garden buildings situated on 2.0 acres, which include 48 one-bedroom and 18 two-bedroom apartments.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $14,000,000
- Buyer: Myron Rosenstein
- Seller: Abe Weinberg
- Seller's Representative: Adam Zweibel - Hudson Atlantic Realty
- Units: 66
- Square Footage: 56,670
- Price per Unit: $212,121
- Price per Square Foot: $247
On the Map
$14,000,000
$247/SF
MultiFamily
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Belleville MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.13%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93