ICON Real Estate Advisors has successfully brokered the $3.7 million sale of a 25-unit multifamily property located at 264–270 S. Harrison Street in East Orange.
ICON Managing Partner David Oropeza represented the seller, Linda Kepniss, in the transaction, while the property was acquired by Freishal Associates LLC. Legal counsel for the seller was provided by Khoren Bandazian of Giordano, Halleran & Ciesla, P.C., and Richard Kellin of AY Strauss represented the purchaser.
The sale marks a notable career milestone for Oropeza, who originally sold the S. Harrison Street property to Kepniss approximately 30 years ago. This transaction follows Oropeza’s earlier arrangement this year of the sale of 76 Park Street in East Orange on behalf of the same client.
“There’s something particularly rewarding about representing a client in the sale of a property that I originally sold to her approximately 30 years ago,” Oropeza said. “Our work together on S. Harrison Street and 76 Park Street this year reflects the long-term relationships that have always been an important part of our business.”
The three-story residential asset comprises 25 spacious units, featuring 19 two-bedroom and six three-bedroom apartments. At the time of the sale, the building was 88% occupied and offered convenient amenities, including both garage and surface parking for residents.
The East Orange deal adds to a strong streak of recent multifamily transactions managed by Oropeza across Essex County, which also includes sales in Newark and Irvington.
