Multifamily Property In Westfield NJ Sold For $10.47M With Seller's Rep Providence Real Estate Advisors

This multifamily asset located at 264 Prospect Street in Westfield has been successfully sold. The transaction closed at a sale price of $10,470,000, involving 41 units across a total square footage of 42,000. The price per unit stands at $255,365, while the price per square foot is recorded at $249.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $10,470,000
• Units: 41
• Square Footage: 42,000
• Price Per Unit: $255,365
• Price Per Square Foot: $249
• Market: Westfield
• Seller's Representative: Daniel Aviles, Drew Crockett & Joseph Belgiovine - Providence Real Estate Advisors

The closing of this transaction was facilitated by the team at Providence Real Estate Advisors, who exclusively represented the seller and successfully procured the buyer. Notably, the deal was secured during the holiday season, demonstrating the dedication of all parties involved. The buyer intends to implement a strategic plan aimed at transforming the property to substantially increase its value.