(Read more on the multifamily market.)
JERSEY CITY, NJ-The mixed-use property at 381-385 Summit Ave.here has changed hands between unidentified local private investorsfor $1.7 million. The property consists of nine apartment units,three retail spaces and a vacant land parcel. Vice presidentJonathan Greenberg and sales associate Don Baxter of the Kislak Co.Inc., Woodbridge, represented both the buyer and seller. At thetime of closing, the property was fully leased.
"The property is centrally located next to the new courthouse inthe city's Journal Square area," Greenberg says. "Kislak has astrong business relationship with both the buyer and the seller,and we were able to secure a high price per unit of $142,000 onthis property. Another plus is the vacant lot, which is a rarecommodity in Jersey City."
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
