A private investor has purchased a 50-unit apartment building in East Orange for $9.35 million, in a deal arranged by Hudson Atlantic Realty.
According to the brokerage team, the off-market sale of 22-30 South Munn Ave. equates to a new record high per-unit price in the city for a prewar, rent-controlled multifamily property. That’s due in part to its location just two blocks from NJ Transit’s East Orange station, as well as a gut renovation in 2008 that helped modernize the collection of one-, two- and three-bedroom rentals.
Prewar 50-unit apartment building in East Orange sells for $9.35 million, Hudson Atlantic says