Hudson Atlantic Realty capped its first full year in business with more than $293 million in transactions. And the Matawan-based investment brokerage is making moves already in 2023.
On Jan. 18, the firm announced the $14.7 million sale of the Tudor House Apartments in Madison, which works out to a $565,000-per unit price.
Though economic conditions have created challenges in the industry, it hasn’t stopped deals from going through.
“Closing this sale at a record setting price and pace within only five weeks of being exclusively listed demonstrates that deals can get done despite today’s challenging financial circumstances,” Managing Partner Adam Zweibel said in a statement.
Built in 2015, the property offers 26 units with one- and two-bedroom layouts with garage parking and in-unit laundry.
The Tudor House Apartments are located at 39 Green Village Road in Madison’s downtown business district and a short walk from the city’s restaurants, shopping options and direct rail service to New York City. Additionally, Drew University, Fairleigh Dickinson University and Morristown Medical Center are each less than 10 minutes away from the property.
Hudson Atlantic sales agent Nicholas Favorito also participated on the transaction team.
According to Managing Broker Jeffrey Otteau, the firm’s “deep understanding of market dynamics together with a surgically targeted marketing plan enabled us to deliver quickly on behalf of our client.”