Ozturk Gatto Group Acquires Development Site In Bayonne, NJ For $7.6M
175 West 7th Street
60,507 SF
Summary
175 W 7th Street, a development site located in Bayonne, NJ, has been sold for a price of $7,600,000. The property spans 60,507 square feet, resulting in a price per square foot of $126. Additionally, the property has a total buildable area of 76,362 square feet, with a price per buildable square foot of $96. This approved development site comes with 56 approved units, at a price of $135,714 per buildable unit.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $7,600,000
- Address: 175 W 7th Street, Bayonne, NJ
- Market: Bayonne, NJ
- Brokers: Fahri Ozturk, Richard Gatto, David Ferber, CPA, Joseph Belgiovine - Ozturk Gatto Group - Marcus & Millichap
- Square Footage: 60,507
- Price per Square Foot: $126
- Total Buildable Area: 76,362
- Price per Buildable Square Foot: $96
The successful transaction was facilitated by the Ozturk Gatto Group from Marcus & Millichap, specifically represented by Fahri Ozturk, Richard Gatto, David Ferber, CPA, and Joseph Belgiovine. This sale at 175 W 7th Street in Bayonne, NJ marks a significant development opportunity with its 56 approved units, demonstrating the demand and potential for growth in the area.
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