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Jeff Blau Of Giga Holdings Acquires Multifamily Property In Newark For $3 Million

Property Image
SOLD
$3,000,000

New Jersey

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MultiFamily19,000 SF
Sold 10/31/2024
the dealdetailscomps
Property Image
SOLD

Jeff Blau Of Giga Holdings Acquires Multifamily Property In Newark For $3 Million

380 Central Avenue

See Similar Deals
MultiFamily19,000 SF
Sold 10/31/2024
the dealdetailscomps

Summary

NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$157
Total Square Footage:19,000 SF
Transaction Type:Sale

The asset involved in this transaction is a multifamily property located at 380 Central Avenue in Newark. The sale price of the property was $3,000,000 and it has a total square footage of 19,000, resulting in a price per square foot of $157.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $3,000,000
  • Address: 380 Central Avenue
  • Market: Newark
  • Square Footage: 19,000
  • Price per Square Foot: $157
  • Buyer: Jeff Blau - Giga Holdings
  • Co-Buyer: Eitan Chakov

Jeff Blau from Giga Holdings, along with Eitan Chakov, is the buyer of the property. This acquisition is intended to expand Giga Holding's Newark Development portfolio, which is set to include a project with 77 units distributed over 6 stories, featuring a mix of 1-bedroom, 2-bedroom, and studio apartments. The construction is projected to commence in February 2025, with YNH Construction NJ leading the efforts.

Details

SOLD
IMAGE: Jeff Blau & Eitan Chakov DATE: 10/31/2024 ADDRESS: 380 Central Avenue MARKET: Newark ASSET TYPE: Multifamily BUYER: Jeff Blau (@Jeff_Blau) - Giga Holdings (@Giga_Holdings); Eitan Chakov (@EitanChakov) SALE PRICE: $3,000,000 SF: 19,000 ~ PPSF: $157 NOTE FROM BUYER: @Jeff_Blau from @Giga_Holdings, along with @EitanChakov, purchased this land to add it to Giga Holding's Newark Development portfolio. This project will contain 77 units over 6 stories, consisting a unit mix of 1 bedrooms, 2 bedrooms and Studio Apartments. The developers expect to break ground in Feb 2025, with @YNH_Construction NJ leading the construction..

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