469 Elizabeth Ave. in Newark — Courtesy: CoStar Inc. (via ICON Real Estate Advisors)
By Joshua Burd
An investor has sold a 58-unit apartment building in Newark’s Weequahic section for $7.5 million, brokers with ICON Real Estate Advisors announced Monday.
David Jarvis and David Oropeza, ICON’s managing partners, represented Newark 469 Elizabeth LLC in its sale of the property at 469 Elizabeth Ave. They also represented the buyer, Dove Management, touting the appeal of an asset that sits along Weequahic Lake and adjoining parkland while providing easy access to NJ Transit service, downtown Newark and Newark Liberty International Airport.
Built in 1920, the six-story elevator property has a mix of one- to three-bedroom floorplans.
“Having worked with the seller for many years — including representing him in his 2016 acquisition of the property — we were pleased to guide this sale and deliver a successful outcome for both parties,” Jarvis said.
