The sale involved a multifamily asset comprising a 25-unit free-market garden-style apartment complex located at 421 East Broadway, Long Beach, NY. The transaction was finalized for $4,950,000, with the price per unit being $198,000 and the total square footage of the property measuring 12,486, resulting in a price per square foot of $396.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $4,950,000
• Units: 25
• Price Per Unit: $198,000
• Square Footage: 12,486
• Price Per Square Foot: $396
• Seller: Omega Group of Companies
• Seller's Representative: Daniel Abbondandolo & Victor Little - Cushman & Wakefield

Cushman & Wakefield facilitated the sale of East Broadway Gardens, highlighting the opportunity to acquire a fully occupied, non-stabilized multifamily asset in a desirable coastal community. The property is situated just steps from the iconic Long Beach Boardwalk, and Brookers Daniel Abbondandolo and Victor Little represented the seller in this transaction.