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Berkadia Facilitates Sale of NJ 35-Unit Apt Community
Berkadia has facilitated the sale of Halstead Place Apartments, a 35-unit apartment community in Clinton, New Jersey. The transaction was led by Nat Gambuzza, Zachary Pierce, Matthew Stefanski, Trevor Fiebel, and Maura Spellman of Berkadia. Terms of the sale were not disclosed.
The property was part of a larger portfolio totaling 640 units sold by Berkadia in 2021. Merion Realty Partners sold Halstead Place Apartments to AcquiVest. “The buyer plans to take a hands-on approach with management in order to gain operating efficiencies for revenue growth,” said Fiebel.
Constructed in 2018, the property at 67 Halstead Street features a mix of one-, two-, and three-bedroom apartments, with an average floor plan size of over 1,100 square feet. The building includes market-rate and COAH-restricted apartments. Amenities at the three-story, elevator-served building include a gym, yoga studio, grill area, storage lockers, and ample surface parking.
- ◦Sale/Acquisition
