PRINCETON, NJ-Marcus & Millichap Real Estate InvestmentServices recently sold a 28-unit apartment property here. Accordingto Spencer Yablon, regional manager of the firm’s Philadelphiaoffice, the asset commanded a sales price of $3.98 million.
Charlie Classen and Ken Wellar, investment specialists in Marcus& Millichap’s Philadelphia office, had the exclusive listing tomarket the property on behalf of the seller, a partnership. Thebuyer, a private investor, was also secured and represented byClassen and Wellar. Michael Fasano, who heads up the firm’s NewJersey operations, assisted in closing this transaction.
The Princeton portfolio is located at 114 Witherspoon St. andfeatures 12 efficiency’s, a one-bedroom, several two-bedrooms, 10three-bedrooms and three retail spaces. All 10 properties wereconstructed in the 1920s and are currently 100% occupied.
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