M id A tlantic Real Estate Journal — Owners, Developers & Managers — October 2026 — 33
www.marej.com
O wners , D evelopers & M anagers Zamora leads sale of Plainfield development site and four-property Newark/Irvington portfolio Marcus & Millichap completes two multifamily assignments in Union and Essex counties
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Penn Station, Manhattan and surrounding communities. “By running a targeted mar- keting process and leveraging Marcus & Millichap’s national platform, we were able to gen- erate close to 50 offers across the portfolio, giving the lender real optionality and price discovery on every property,” Zamora said. “Our in-depth re- lationships with active buyers in this market were what ul- timately allowed us to secure well-capitalized, all-cash buy- ers on each deal and navigate every transaction to a smooth, certain closing.” MAREJ
ORTHERN NJ — Marcus & Millichap recently completed
two New Jersey multifamily assignments, including the sale of a Plainfield devel- opment site approved for a 68-unit project and a four- property portfolio in Newark and Irvington. Jonathan Zamora , senior director in- vestments in Marcus & Mil- lichap’s New Jersey office, led both transactions. In Plainfield, Marcus & Millichap announced the sale of 314 E. 4th St., a roughly half-acre development site. The sale was structured con- tingent upon municipal ap- provals, which were secured for a five-story, 68-unit multi - family building with ground- floor commercial space and 51 parking spaces. Planned amenities include a lounge, fitness center, second- floor business center, third- floor courtyard and a 2,800 s/f rooftop area. The site is near the Plainfield train station, providing access to Newark and New York City. Marcus & Millichap also completed the sale of four bank-owned multifamily prop- erties in Newark and Irvington on behalf of a lending institu- tion. Zamora’s team listed the properties, with Jack Carle of Marcus & Millichap providing additional support on the dis- position and acquisition sides. The marketing process generated nearly 50 offers across the portfolio. Each property was sold to a well- capitalized, all-cash buyer, with buyers closing without contingencies and waiving the bulk-sale requirement. The properties presented value-add opportunities, with buyers planning renovations and unit upgrades. The portfolio includes: • 101 Camden St., Newark: An 8,400 s/f building on 0.08 acres with 12 one-bedroom, one- bath apartments, built in 1900. • 282 Nesbit Terrace, Ir - vington: A 6,000 s/f property on 0.14 acres that was built in 1929 and was fully occupied at the time of sale. • 122 Elmwood Ave., Irving - ton: A 6,720 s/f building on 0.29 acres with eight one-bedroom apartments, built in 1962. • 773-775 Sanford Ave., Newark: A 12,000 s/f property on 0.11 acres, built in 1950, with 12 apartments consist- ing of 10 one-bedroom and two
314 E. 4th St. rendering
Four-Property portfolio in Newark Metropolitan area
two-bedroom units. The properties are located in Newark and Irvington’s University Heights, West
Side and Springfield Avenue corridor neighborhoods, with proximity to Rutgers Univer- sity–Newark, NJIT, Essex
County College and Seton Hall University School of Law. The area also offers NJ Transit bus service connecting to Newark
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