Marcus & Millichap Orchestrates $4M Land Sale in Newark for Multifamily Development

NEWARK, N.J. — Marcus & Millichap has orchestrated the sale of a 43,869-square-foot tract of land in Newark for the development of an 84-unit condominium community. Carlos Zapata represented the seller, a developer in the transaction. The buyer was undisclosed. Located at 73-87 Clay St., the land is approved for 84 residential units and 4,630 square feet of retail space. The city will be adjusting the surrounding landscape and traffic patterns to encourage retail shopping in the area.