Sub Markets

Property Sectors

Topics

New York & Tri-State CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

New York & Tri-State  + New Jersey  + Apartments  | 

Adoni Divests Avenel Apartments for $14M

Cushman & Wakefield arranged the sale of Boulevard East Apartments, a 39-unit, newly constructed apartment community located at 355 Edgerton Blvd. in Avenel, NJ. The final sale price was $14,300,000.

The Cushman & Wakefield Tri-State Private Capital Group of Andrew Schwartz, Jordan Sobel, Andre Balthazard and Dan Bottiglieri represented the seller, Adoni Property Group, and procured the buyer, FM Ferrari Investments.

“The Boulevard East Apartments presented an exceptional investment opportunity, combining premium unit finishes, strong leasing performance and a prime location in the thriving greater Woodbridge market,” said Sobel. “This sale underscores the continued demand for high-quality multifamily assets in well-connected New Jersey submarkets.”

The three-story property consists of 39 newly constructed units that are fully leased. Each unit has two bedrooms featuring premium finishes, including stainless steel appliances, designer bathrooms and an assigned parking space.

The property is convenient to the New Jersey Turnpike and Garden State Parkway.

Read More News Stories About: Cushman & Wakefield
Connect

Inside The Story

Cushman & Wakefield's Sobel

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
New call-to-action