Lincoln Equities RWN Real Estate Partners Avenue Realty Capital Acquire Multifamily Asset For $113M

The property asset involved in the transaction is a multifamily asset located at 85 Cooper Avenue in Long Branch. The sale price of the asset was $113,000,000, consisting of 170 units, with a price per unit of $664,705. The total square footage of the property is 218,990, yielding a price per square foot of $516.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $113,000,000
• Units: 170
• Price Per Unit: $664,705
• Square Footage: 218,990
• Price Per Square Foot: $516
• Buyer: Lincoln Equities, RWN Real Estate Partners & Avenue Realty Capital
• Seller: Steve Silverman - Ocean Cooper Revitalization
• Brokers: Niko Nicolaou, Ryan Dowd, J.P. Hohl & Alexandria Ebers - Cushman & Wakefield

The transaction featured key individuals and firms, such as Lincoln Equities, RWN Real Estate Partners, and Avenue Realty Capital, representing the collective buyer effort. Steve Silverman, associated with Ocean Cooper Revitalization, acted as the seller in this transaction. The brokerage team included Niko Nicolaou, Ryan Dowd, J.P. Hohl, and Alexandria Ebers, who facilitated the sale under Cushman & Wakefield.