Fantastic Four: NJ Apartment Portfolio Sold for $5.5M

Posted on Jul 27 2015 - 9:05pm by Brandon De Hoyos

crbe(EAST ORANGE, N.J.) — Four multifamily properties with a combined 73 units fetched $5.5 million in New Jersey.

The properties are each at or near 100 percent occupancy, according to commercial real estate brokerage firm CBRE Group Inc., and were purchased by an undisclosed buyer, NJBiz reports.

The apartments include units at 6 Glenwood Ave., 30 Beech St., 46 South Arlington Ave. and 345 Williams St.

Charles Berger and Mark Silverman, of the CBRE Capital Markets Investment Properties team in New Jersey, and CBRE New York’s Eli Klapper wooed the buyer on behalf of the undisclosed seller.

Stay tuned to Lance Edwards’ Deals & Dollars Weekly for more multifamily news. Get up-to-the minute news and information with a complimentary newsletter subscription.

Get a free paperback copy of How to Make Big Money in Small Apartments here.