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Traded: New Jersey

Recent commercial real estate transactions in New Jersey.
(2)

11/29/2023

SALE
IMAGE: Brent Hyldahl & Alan Cafiero
DATE: 11/28/2023
ADDRESS: 21-29 Union Avenue
MARKET: Somerville
ASSET TYPE: Retail

SELLER: SNS Real Estate Investment Group, LLC
BROKERS: Brent Hyldahl & Alan Cafiero () - Marcus & Millichap ()

SALE PRICE: $3,525,000
SF: 20,866 ~ PPSF: $169

NOTE: Marcus & Millichap has sold Union Avenue Plaza in Somerville, New Jersey, for $3,525,000. The 20,866-square-foot retail center, anchored by the New Jersey Department of Motor Vehicles, utilized the Ten-X auction process, fostering competitive bidding and ensuring a swift transaction.

https://www.instagram.com/p/C0PI_v7NMK4/

11/29/2023

LOAN
IMAGE: Matthew Stearns & Zach Lutwak-Fitzgerald
DATE: 11/24/2023
ADDRESS: 1725 Northeast 36th Avenue
MARKET: Ocala, FL
ASSET TYPE: Multifamily ~ UNITS: 67

LENDER: RWC Lending
LANDLORD: Red Knight Properties ()
BROKERS: Matthew Stearns & Zach Lutwak-Fitzgerald () - Black Bear Capital Partners ()

LOAN AMOUNT: $4,075,000
LOAN TYPE: Acquisition
LOAN TERMS: The acquisition of the multifamily property, spanning 67 units, was financed via a 5-year fixed-rate loan and interest-only payments for the entirety of the term.

https://www.instagram.com/p/C0O7QheIMyX/

11/28/2023

SALE
IMAGE: Rob Speyer
DATE: 11/27/2023
ADDRESS: 231 Saint Asaphs Road
MARKET: Bala Cynwyd, PA
ASSET TYPE: Office

BUYER: FLD Group, Inc & Adjmi family
SELLER: Tishman Speyer () - Rob Speyer

SALE PRICE: $185,000,000

NOTE: Bala Plaza office properties in Bala Cynwyd have been acquired by FLD Group, Inc. and the Adjmi family for $185 million. The new owners plan to continue the approved redevelopment master plan, transforming the property into a modern destination with retail, a hotel, office space, and residential units.

https://www.instagram.com/p/C0Mx7oNKqRd/

11/22/2023

SALE
IMAGE: William Broderick
DATE: 11/17/2023
ADDRESS: 448 1st Street
MARKET: Palisades Park
ASSET TYPE: Multifamily

BUYER'S REP: Kyung Park - Young Star Realty
SELLER'S REP: William Broderick () - Ridgeco Properties ()

SALE PRICE: $1,899,000

NOTE: A multifamily property located at 448 1st Street in Palisades Park was sold for $1,899,000. Kyung Park of Young Star Realty represented the buyer, and William Broderick of Ridgeco Properties represented the seller.

https://www.instagram.com/p/Cz9VJ1Brd36/

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