NAI DiLeo-Bram & Co., recently announced that Eric B. Johnston, principal, represented the buyer, Landmark Companies, LLC, in the acquisition of 34 Bank Street, a 126-unit multifamily property, in Netcong, New Jersey. The sale price was $44.5 Million.
“Demand for Class A properties in the multifamily sector continues to be very strong,” stated Johnston. “We are pleased to have been able to help negotiate this transaction on behalf of the buyer, Landmark Companies, LLC. This marks the third multifamily property our firm has sold recently, totaling over 275 units,” he added.
Located in walking distance to a NJ Transit train station as well as I-80 and Routes 46 and 206, 34 Bank Street is a newly constructed, 126-unit multifamily building. The eight-building apartment community is comprised of one, two and three-bedroom units. Features of the property include waterfront views, garages, grilling stations, fire pits, a clubhouse and fitness center. The newly constructed units contain stainless steel appliances, quartz countertops, oversized windows, and vinyl wood plank flooring.