The property involved in this transaction is a multifamily asset located at 56 13th Ave in Paterson, NJ. The sale took place on 05/20/2021. The buyer, 56 13th Ave LLC, purchased the property from the seller, NS 107 Properties. The deal was facilitated by brokers Daniel Aviles from Aviles Group and Casey Egan from Marcus & Millichap.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $2,880,000
• Address: 56 13th Ave, Paterson, NJ
• Market: Paterson, NJ

This transaction involved the sale of a 15-unit multifamily property at a price of $192,000 per unit. The capitalization rate for the deal was 6. It is worth noting that this deal represents the second highest ever price per unit in Paterson, NJ. The Aviles Group previously set the record last year with a price of $208,552 per unit. If you have any multifamily investment needs in Northern NJ, you can reach out to Daniel Aviles at (201) 742-6148 or Casey Egan at (201) 742-6112.