CBRE team completes nearly $42M in sales in Q1

A CBRE investment sales team has completed nearly $42 million in transactions in the first quarter, the real estate firm announced recently.

The team of Nat Gambuzza, Trevor Fiebel, Spencer Beriont and Tim Blashford arranged six sales, representing the sellers and procuring the buyers for the deals, which included five multifamily assets and a residential development site, CBRE said in a news release.

“Multifamily demand throughout the state has shown its resilience coming out of the depths of the pandemic,” Gambuzza said in a prepared statement. “Overall, rent collections have remained strong, vacancies have been minimal and rents have increased with the surge of new residents coming to New Jersey from New York.”

The transactions included:

  • 155-185 Gold St., North Arlington, a 58-unit property sold for $9.7 million;
  • 803 South Ave., Plainfield, a development site sold for $4.65 million;
  • 607-611 Madison Ave., Plainfield, a four-story building sold for $4.12 million;
  • 130 N. Walnut St., East Orange, a 21-unit property sold for $2.75 million;
  • Reina Apartments, 1425 Saint George Ave., Roselle, a 17-unit building sold for $1.81 million;
  • A 174-unit residential/commercial portfolio, Gloucester County, sold for an undisclosed price.