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Property Description
118 Corbin Avenue is a 21 unit apartment building located within walking distance on the Journal Square PATH station and conveniently located to employment, shopping, and freeways. This is a 4- story walkup apartment building constructed in 1910 on a lot of approximately 0.10 acres. The proposed project consists of acquiring the 21 unit apartment building, to convert and renovate the property to condominium ownership. The project is projected to sellout all 21 units over the course of 10 months of sales. The total sellout is estimated to be $3,078,800. The anticipated asking sales price of $260 per square foot is based on current sale prices of condominiums in the neighborhood as well as sales from a Vision Group sponsored condominium conversion on the same street. |
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