The Pomeranc Group Acquires Multifamily Property In Wayne For $151M

The multifamily property located at 650 New Jersey Highway 23 in Wayne has been sold in a closed transaction. The property consists of 465 units with a price per unit of $324,731, resulting in a total sale price of $151,000,000. The total square footage of the property is 207,519, with a price per square foot of $728.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $151,000,000
• Address: 650 New Jersey Highway 23, Wayne
• Market: Wayne
• Asset Type: Multifamily

The buyer involved in this transaction is The Pomeranc Group represented by Michael Pomeranc. The seller is UBS Realty Investors. The deal was facilitated by the brokers Ryan Dowd, Niko Nicolaou, Brian Whitmer, and Peter Welch from Cushman & Wakefield.