Kelly Phung Purchases 9 Unit Multifamily Property In Union City From Erol Kilikcier For $4.85M

This transaction involves a multifamily asset located at 707 28th Street in Union City, which was sold for $4,850,000. The property comprises 9 units across a total square footage of 22,404, resulting in a price per unit of $538,888 and a price per square foot of $216.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $4,850,000
• Units: 9
• Square Footage: 22,404
• Price Per Unit: $538,888
• Price Per Square Foot: $216
• Buyer: Kelly Phung
• Seller: Erol Kilikcier
• Seller's Representative: Gershon Adjaye - Keller Williams Realty

This deal highlights the involvement of Gershon Adjaye from Keller Williams Realty representing the seller, Erol Kilikcier. Notably, the property was sold fully leased, displaying a history of 0% vacancy. There are plans for additional fully leased properties in North Jersey and Miami to be on the market at the end of Q1 or early Q2.