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MCP Acquires 4-Bldg East Orange, NJ MF Portfolio from Seaview Capital

“Prices continue to skyrocket to well over $100,000 per unit in East Orange,” says Kislak's Julie Gralla. “The city is extremely desirable to tenants and investors with two midtown direct trains providing service to and from Manhattan in 20 minutes.”

By Steve Lubetkin | Updated on December 15, 2017

Four properties in the 72-unit East Orange, NJ, multifamily portfolio acquired by MCP Real Estate & Investment Management Four properties in the 72-unit East Orange, NJ, multifamily portfolio acquired by MCP Real Estate & Investment Management

EAST ORANGE, NJ—MCP Real Estate & Investment Management  has acquired a portfolio of four multifamily buildings totaling 72 units in East Orange from Seaview Capital Partners for about $7.4 million as part of an $11.75 million series of transactions brokered by The Kislak Company.

According to Real Capital Analytics, a proprietary research database, MCP acquired the 72 units in a portfolio of four buildings at 30 Beech Street, 46 South Arlington Avenue, 356 William Street and 6 Glenwood Avenue; Kislak also sold 47 units in two buildings at 139 Halsted Street (sold by TBG Halsted) and 116-118 South Grove Street (sold by TBG South Grove St.) for $2.45 million; and another 21 units at 67 Lenox Avenue (sold by 67 Lenox LLC) for $1.9 million. Kislak described the purchasers of the properties as private investors.

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