Mulberry Gardens LLC Acquires Development Site In Newark For $5M

In a recent closed transaction, a development site located at 514 Mulberry Street in Newark was sold for $5,000,000. The property, spanning 2.56 acres, was listed with an asking price of $5,200,000. The sale price translates to a price per acre of approximately $1,953,125. The transaction took place on March 1, 2021.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $5,000,000
• Address: 514 Mulberry Street, Newark
• Market: Newark

The buyer, Mulberry Gardens LLC, successfully acquired the property from the seller, Mybar Realty LLC. Facilitating the transaction was broker Bobby Antonicello Jr. of an undisclosed agency.