Julie Gralla Facilitates $35M Sale Of Multifamily Asset In Somerset County, NJ

An undisclosed multifamily property in Somerset County, NJ, has been sold for a record-breaking price of $35,000,000. The transaction, finalized on 11/02/2020, involved the sale of over 130 units, resulting in a per unit price of over $260,000. The property, details of which have not been disclosed, was listed by Julie Gralla of Julie Gralla Commercial Real Estate. The sale was executed under a hard contract with a substantial deposit, reflecting the strong interest of the buyer who remains actively seeking additional acquisitions in the market.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $35,000,000
• Units: 130+
• Price Per Unit: $260,000+

Julie Gralla, a reputable broker from Julie Gralla Commercial Real Estate, represented the seller in this successful transaction. With the buyer's aggressive pursuit of additional acquisitions, the sale highlights the attractiveness of the multifamily market in Somerset County, NJ, and the potential for further growth in the region.