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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.
- ◦Sale/Acquisition
