Press Releases
Marcus & Millichap Arranges Sale of Four-Property Multifamily Portfolio in Newark Metropolitan Area
September 17, 2026
NEWARK, N.J., Sept. 17, 2026 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of a four-property multifamily portfolio in Newark and Irvington, New Jersey.
"By running a targeted marketing process and leveraging Marcus & Millichap's national platform, we were able to generate close to 50 offers across the portfolio, giving the lender real optionality and price discovery on every property," said Jonathan Zamora, senior director investments in Marcus & Millichap's New Jersey office. "Our in-depth relationships with active buyers in this market were what ultimately allowed us to secure well-capitalized, all-cash buyers on each deal and navigate every transaction to a smooth, certain closing."
The Zamora team exclusively listed all four bank-owned properties on behalf of the seller, a lending institution, with Jack Carle of Marcus & Millichap providing additional support on both the disposition and acquisition sides of the transaction. Each buyer closed non-contingent and waived the bulk-sale requirement, with hard contracts signed across the board. Each asset represented a heavy value-add opportunity, with buyers planning renovations and unit upgrades to bring rents to market.
101 Camden St. is an 8,400-square-foot building on 0.08 acres. All 12 units are one-bedroom/one-bathroom apartments, and it was built in 1900.
282 Nesbit Terrace is a 6,000-square-foot property on 0.14 acres. It is fully occupied and was built in 1929.
122 Elmwood Ave. is a 6,720-square-foot apartment building on 0.29 acres. It was built in 1962. All eight units are one-bedroom apartments.
773-775 Sanford Ave. is a 12,000-square-foot property on a 0.11-acre lot. It was built in 1950 and the 12-unit mix includes 10 one-bedroom and two two-bedroom apartments.
The portfolio spans Newark and Irvington's University Heights, West Side, and Springfield Avenue corridor neighborhoods, offering proximity to Rutgers University–Newark, NJIT, Essex County College, and Seton Hall University School of Law, along with NJ Transit bus service connecting to Newark Penn Station, Manhattan and the Oranges.
"By running a targeted marketing process and leveraging Marcus & Millichap's national platform, we were able to generate close to 50 offers across the portfolio, giving the lender real optionality and price discovery on every property," said Jonathan Zamora, senior director investments in Marcus & Millichap's New Jersey office. "Our in-depth relationships with active buyers in this market were what ultimately allowed us to secure well-capitalized, all-cash buyers on each deal and navigate every transaction to a smooth, certain closing."
The Zamora team exclusively listed all four bank-owned properties on behalf of the seller, a lending institution, with Jack Carle of Marcus & Millichap providing additional support on both the disposition and acquisition sides of the transaction. Each buyer closed non-contingent and waived the bulk-sale requirement, with hard contracts signed across the board. Each asset represented a heavy value-add opportunity, with buyers planning renovations and unit upgrades to bring rents to market.
101 Camden St. is an 8,400-square-foot building on 0.08 acres. All 12 units are one-bedroom/one-bathroom apartments, and it was built in 1900.
282 Nesbit Terrace is a 6,000-square-foot property on 0.14 acres. It is fully occupied and was built in 1929.
122 Elmwood Ave. is a 6,720-square-foot apartment building on 0.29 acres. It was built in 1962. All eight units are one-bedroom apartments.
773-775 Sanford Ave. is a 12,000-square-foot property on a 0.11-acre lot. It was built in 1950 and the 12-unit mix includes 10 one-bedroom and two two-bedroom apartments.
The portfolio spans Newark and Irvington's University Heights, West Side, and Springfield Avenue corridor neighborhoods, offering proximity to Rutgers University–Newark, NJIT, Essex County College, and Seton Hall University School of Law, along with NJ Transit bus service connecting to Newark Penn Station, Manhattan and the Oranges.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
