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December 04, 2019  

Builder Markets Northern NJ Rentals

Tucker Development is shopping an apartment building in Newark, N.J., with an estimated value of $50 million.The 152-unit property, at 24 Jones Street, was developed in 2016 and is roughly 95% occupied. It draws renters from the nearby University Hospital and Rutgers New Jersey Medical School. At the estimated value of just under $330,000/unit, a buyer’s initial annual yield would be about 6.5%. Tucker, a Chicago development firm, has given...

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