Walker & Dunlop Completes Sale of Luxury Multifamily Property in Westfield, New Jersey
Walker & Dunlop completed the sale of $29,750,000 for 333 Central Avenue, a 70-unit luxury multifamily property in Westfield, New Jersey. Built in 2017, this four-story property is distinguished as the largest apartment community in downtown Westfield, featuring premium amenities and proximity to the Westfield Train Station. The transaction was represented by Thomas Walsh and Joseph Garibaldi, with Rockwood Capital acquiring the asset. Walker & Dunlop has demonstrated strong market performance, boasting a $4.74 billion property sales volume in the first half of 2021.
- Successful sale of 333 Central Avenue for $29,750,000.
- Recognition as the largest and most visible luxury apartment in Westfield.
- Strong performance with $4.74 billion in property sales volume in H1 2021.
- None.
BETHESDA, Md., Oct. 12, 2021 /PRNewswire/ -- Walker & Dunlop, Inc. announced today that it completed the
Walker & Dunlop's Thomas Walsh and Joseph Garibaldi represented the sellers, Claremont Development and The Hampshire Companies, in the transaction to the buyer, Rockwood Capital, LLC.
Mr. Walsh commented, "Institutionally developed, owned, and maintained, 333 Central Avenue is Westfield's highest-quality luxury rental property. Although development along the Raritan Valley Train Line is rapidly increasing, the majority of competing assets are privately owned by generational-focused investors. Rockwood Capital saw a tremendous opportunity to acquire an institutional-caliber, boutique transit-oriented development asset in one of New Jersey's trophy bedroom communities along a high barrier to entry transit route."
333 Central features best-in-class unit interior finishes and amenities, including a modern community room, 24-hour fitness studio with Pilates, yoga, and fitness on demand, a package concierge, rooftop terrace, direct-access secured parking garage, and a dog walk and pet-washing facility. The property sits directly across the street from the Westfield Train Station, which registers the highest ridership of any station on New Jersey Transit's Raritan Valley Line. Downtown Westfield is one of the most appealing districts for entertainment, shopping, and restaurants, making 333 Central highly desirable for residents seeking a live, work, and play lifestyle.
Walker & Dunlop is a leader in multifamily property sales, having completed
About Walker & Dunlop
Walker & Dunlop (NYSE: WD) is the largest provider of capital to the multifamily industry in the United States and the fourth largest lender on all commercial real estate including industrial, office, retail, and hospitality. Walker & Dunlop enables real estate owners and operators to bring their visions of communities — where Americans live, work, shop, and play — to life. The power of our people, premier brand, and industry-leading technology enables us to meet any client need – including financing, research, property sales, valuation, and advisory services. With over 1,000 employees across every major U.S. market, Walker & Dunlop has consistently been named one of Fortune's Great Places to Work® and is committed to making the commercial real estate industry more inclusive and diverse while creating meaningful social, environmental, and economic change in our communities.
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SOURCE Walker & Dunlop, Inc.
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