Land In Jersey City Sold For $1.5 Million With David De Pierro As The Broker

505 Newark Avenue is a 6,184-square-foot vacant land parcel located in Jersey City's Journal Square, sold for $1.5 million. The property presents a development opportunity with a permitted 5-story mixed-use building, featuring up to 4 stories of residential space above ground-floor commercial/retail and minimal parking requirements.

Summary of transaction details:

• Property Type: Land
• Transaction Amount: $1,500,000
• Lot Size: 6,184 square feet
• Price per square foot: $243
• Broker: David De Pierro
• Agency: Prominent Properties Sotheby's International Realty
• Date of Sale: 01/10/2025
• Market: Jersey City

The transaction involved David De Pierro representing the buyer through Prominent Properties Sotheby's International Realty, highlighting the broker's role in facilitating this significant land sale in a developing area.