(Read more on the multifamily market.)

SUMMIT, NJ-Beech Spring Apartments, a 53-unit complex, has been sold for $7.9 million, a number that factors out to just more than $149,000 per unit. The complex, made up of seven buildings at 6 Beech Spring Dr. near this city’s Midtown Direct train station, was fully occupied at the time of sale.

The sale was arranged by Jonathan Greenberg, vice president, and sales associate Andrew Jonas of the Kislak Co., Woodbridge. The brokers declined to identify the buyer or seller. The latter was described as a local family that had owned the property for more than a decade, and for whom Jonas has managed a half dozen transactions over the past 15 years.

“Properties of this caliber are a rare find in this community,” Greenberg says. “Finding the right buyer who understood the value of such a property was a significant part of this transaction.”

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