Berkadia Represents Sale Of 38-Unit Multifamily Property At 88 Monroe Place For $7.3M

88 Monroe Place is a 38-unit multifamily property located in Bloomfield, New Jersey. The asset spans approximately 40,000 square feet and possesses a price per unit of $192,105, resulting in a total sale price of $7,300,000. The property is notable for its elevator-served feature and Tudor-style architecture, providing a well-located option within Essex County for investors seeking rental opportunities.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $7,300,000
• Units: 38
• Price Per Unit: $192,105
• Square Feet: 40,000
• Price Per Square Foot: $182
• Date of Sale: 07/14/2026
• Brokers: Nat Gambuzza & Timothy Blashford - Berkadia

Nat Gambuzza and Tim Blashford successfully facilitated the closing of this property, which was under generational ownership and had been meticulously maintained. The transaction managed to close more than a month ahead of the contractual date despite facing challenges, including a fire four days prior, resulting in seven units being impacted. Their team effectively handled buyer financing and insurance assignments, ensuring the deal closed 20 days early.