15-19 Smith St. in Irvington — Courtesy: Marcus & Millichap
By Joshua Burd
A private investor has purchased a 17-unit apartment building in Irvington for more than $2 million, in a newly announced deal by Marcus & Millichap.
In a news release, the firm said the property at 15-19 Smith St. traded to a New Jersey-based LLC. The 14,000-square-foot property fetched $2.03 million, the brokers said, citing its proximity to highways such as the Garden State Parkway and Interstate 78, the Irvington Bus Terminal and the Brick Church train station.
“It was a pleasure working on this assignment for a returning client to Marcus & Millichap,” said Jed Matricaria, a senior associate with Marcus. “We would like to thank the seller for taking our guidance, which generated 10 offers, a noncontingent contract and a sale at 96 percent of the list price. Due to our marketing process, we were able to close without renegotiation amid a rapidly changing market.”
Matricaria and Daniel Aviles, investment specialists in Marcus & Millichap’s New Jersey office, represented another private LLC in the sale. They also procured the buyer of the property, which was built in 1964 and sits on a 0.13-acre lot, housing 17 one-bedroom and one-bathroom units and 13 parking spaces.
“There were several buyers who made seemingly attractive offers on this deal, which would normally make it difficult for the seller to make an educated decision,” said Aviles, a first vice president investments with Marcus. “We were able to vet those offers and appropriately guide our client. It has never been more important to have a trusted team working on clients’ behalf.”
