203 Market St. in Perth Amboy — Courtesy: Capital Realty Associates
By Joshua Burd
An investor has purchased a seven-building, 73-unit multifamily portfolio in Perth Amboy for nearly $12 million, under a deal arranged by Capital Realty Associates.
Brokers with the firm represented the seller, Lev Properties, in a transaction that spanned 193 and 203 Market St., 315 Herbert St., 390 State St., 130 Pearl Place, 174 Pulaski Ave. and 459 Penn St. The team did not disclose the buyer but described it as a Brooklyn-based firm.
“We are pleased have closed this seven-building portfolio on behalf of our client,” said Benjamin Greenstein, president of Capital Realty. “At Capital Realty, we take great pride in procuring the most suitable real estate transactions for our clients, and strive to arrive at the best terms for all parties involved.”
Capital Realty sales associates Ben Cooper and Solomon Halberstam completed the $11.95 million transaction on behalf of both parties.
“Perth Amboy is a unique urban area rich with multifamily properties that are ideal for investors looking to gain a foothold in the region,” Cooper said. “Its close proximity to some of the state’s major highways and the waterfront make the city of Perth Amboy ideal for investors and residents alike.”
The sale follows other recent New Jersey deals by Cooper and Halberstam, including the trades of a 53-unit portfolio in Atlantic City and a 12-unit portfolio in Jersey City.
