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Cushman & Wakefield Sells Two Multifamily Buildings in New Jersey

09/25/2015

Two multifamily buildings, located at 1000 West and 522 10th Streets in Union City, New Jersey, were sold in an all-cash transaction valued at $2,120,000. The adjacent buildings combine for approximately 16,698 square feet, with 12 residential units consisting of one-bedroom and two-bedroom apartments.

Built in 2010, 1000 West Street is a four-story, elevator-serviced brick building containing nine residential units.  Additionally, it holds 13 covered parking spaces on the first floor. 522 10th Street is an adjacent three-family building. The sale price equates to approximately $127 per square foot and $176,667 per unit.

The properties are ideally located in close proximity to many retail shops, restaurants, entertainment centers, parks, and public transportation.

“We were able to identify the perfect buyer for our client due to our extensive marketing process,” said Cushman & Wakefield’s Fahri Ozturk, who exclusively represented the seller in this transaction with Alexander McGee.  The buyer was represented by Miriam Lebovitz of Dwell Realty.

09/25/2015 - 13:45

Source

Cushman & Wakefield Capital Markets Group New York

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