Farrukh Babar Acquires Retail Property From Derek Weissman & Lucas Vitollo For $2.4M

The property asset involved in this transaction is a retail space located at 510 Summit Avenue in Jersey City. The sale price was $2,400,000, encompassing a total square footage of 7,000 and equating to a price per square foot of $342.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $2,400,000
• Address: 510 Summit Avenue
• Market: Jersey City
• Square Footage: 7,000
• Price per Square Foot: $342
• Buyer: Farrukh Babar
• Seller: Derek Weissman & Lucas Vitollo
• Brokers: Bobby Antonicello Jr. & Andrew Crisara - Grid Real Estate

The key individuals involved in this deal include the buyer Farrukh Babar, who acquired the property, and sellers Derek Weissman and Lucas Vitollo. The transaction was facilitated by brokers Bobby Antonicello Jr. and Andrew Crisara, representing Grid Real Estate, ensuring a smooth process for both parties.