JLL Income Property Trust Acquires Multifamily Property In North Haledon, NJ For $89M

The multifamily property located at 920 Belmont Avenue in North Haledon, NJ has been sold in a closed transaction. The property consists of 180 units with a total square footage of 176,889. The sale price for this transaction was $89,000,000, resulting in a price per unit of $494,444 and a price per square foot of $503.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $89,000,000
• Units: 180
• Price Per Unit: $494,444
• Square Footage: 176,889
• Price Per Square Foot: $503

JLL Income Property Trust has acquired the property from Tulfra Real Estate and The Hampshire Cos. The sale was facilitated by the brokers Brian Whitmer, Niko Nicolaou, Ryan Dowd, and Peter Welch from Cushman & Wakefield.