Just Sold
24 UNIT APARTMENT BUILDING
Belleville, New Jersey
DEAL
HIGHLIGHTS
+ 
24 Apartment Units
+ 
Sold in Excess of $150,000 a Unit
+ 
Well Maintained Property with Little Deferred Maintenance   
+ 
Rents 9% Below Market
CLOSING
SUMMARY
Nat Gambuzza, John Veniero and team proudly announce the closing of a 24 unit apartment building in Belleville, New Jersey. The building consists of 8 one bedroom and 16 two bedroom apartments. The team created a competitive market environment around the property by leveraging their expertise along with CBRE's platform. This combination helped produce 15 offers that resulted in a per unit price that was 35% higher than the average in Belleville this year.  The deal was highlighted by rents that were 9% under market allowing the new owner to increase revenue over time.
Team
SUMMARY
Over the past 12 months, our team has closed 841 units and $59,615,000 in volume in the Essex County market.  Team members are available to provide information on these transactions and others in the New Jersey market or for evaluations on your properties.
CONTACT
US
NAT GAMBUZZA
Senior Vice President
+1 201 712 5656
nat.gambuzza@cbre.com
JOHN VENIERO
Senior Associate
+1 201 712 5644
john.veniero@cbre.com
BRIAN ANTOGNINI
Team Manager
+1 201 712 5652
brian.antognini@cbre.com
Capital Markets | Investment Properties
 
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