"The Newark apartment complex known as Dyln was purchased for $20.5 million, which is 41.6% lower than its last estimated value of $35.1 million as per county records."
"Trion Properties sold the complex to an affiliate led by developer Jacob Wintner, indicating a significant shift in the value observed in multifamily residential properties."
"The multifamily residential property totals 83 units and was built in 1966, consisting mainly of three-story buildings, reflecting age-related value stabilization."
"Market fluctuations are evident in the East Bay, with some apartment transactions indicating a declining trend while others highlight pockets of resilience based on location."
The Dyln apartment complex in Newark was acquired for $20.5 million, which is 41.6% lower than its previous estimated value of $35.1 million. The sale occurred on July 16 and is indicative of a weakening commercial and residential property market in the Bay Area. The property, constructed in 1966, comprises 83 multifamily residential units housed in three-story buildings. Recent transactions in the East Bay show a declining multifamily market, but certain locations still show signs of stability.
Read at www.mercurynews.com
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