David Betesh Of ICON Real Estate Advisors Represents Buyer And Seller In $4.1M Bayonne Multifamily Sale

5-7 Kelly Parkway is a 25-unit multifamily apartment building located in Bayonne, New Jersey. The property was sold for $4,100,000, translating to a price per unit of $164,000. This transaction marks the end of more than 50 years of ownership by the Brancatella family.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $4,100,000
• Units: 25
• Price Per Unit: $164,000
• Market: Bayonne, NJ
• Broker: David Betesh - ICON Real Estate Advisors

David Betesh of ICON Real Estate Advisors represented both the buyer and seller in this transaction. The broker noted that the property's stable income and potential for rent growth significantly attracted investor interest.