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East Orange Multifamily Portfolio Fetches $16M
Hudson Atlantic Realty arranged the sale of four multifamily buildings with a combined 96 apartment units in transit-oriented East Orange, NJ for $15,600,000. The properties are located at 30 Beach St., 46 S. Arlington Ave., 6 Glenwood Ave. and 363 Park Ave., all within a short walk to the city’s downtown and train stations.
“At a selling price of more than $162,000 per unit, this sale sets a high benchmark for the East Orange submarket signaling growing interest in secondary markets from both investors and tenants,” said Adam Zweibel, Hudson Atlantic’s managing partner. “This is just the beginning of a very bright future for New Jersey’s emerging inner-ring markets.”
Jeffrey Otteau, the firm’s managing broker, added, “Getting this deal across the finish line required an extraordinary effort by the Hudson Atlantic Team given the complexities of orchestrating a multi-property transaction within an accelerated timeline in a rising interest rate environment.”
- ◦Sale/Acquisition
