CBRE arranges $1M sale of multifamily property

CBRE announced recently that its Tri-State Investment Properties team has arranged the $1 million sale of a multifamily building in Paterson.

Charles Berger, vice president, and Elli Klapper, first vice president, represented the seller of 315 Park Ave. and procured the New York-based buyer.

“We’re seeing a steady rise in interest from outside investors in the Paterson multifamily market, an urban center located in the heart of the sought-after northern New Jersey region that has been heating up significantly,” Berger said. “Keen-eyed buyers and investors are finding enhanced value in the city and in the New Jersey urban markets in general.”