Berkadia Closes $9.3M Multifamily Sale In Clinton, New Jersey With 35 Units

The multifamily asset located at 67 Halstead Street in Clinton, New Jersey was sold for $9,300,000. The property comprises 35 units spread across 35,000 square feet. Each unit was sold at an average price of $265,714 per unit, with a price per square foot of $266.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $9,300,000
• Units: 35
• Square Footage: 35,000
• Address: 67 Halstead Street
• Market: Clinton, New Jersey

The sale of Halstead Place was facilitated by Nat Gambuzza, Trevor Fiebel, Matt Stefanski, Zac Pierce, and Maura Spellman of Berkadia. This boutique apartment community featured amenities such as a gym, yoga studio, grill area, and storage lockers. Additionally, 20% of the apartments had COAH designation. The buyer was particularly attracted to the property's quality, spacious floor plans, and the potential for expense reductions under new management.