295 Sherman LLC Acquires Mixed-Use Property In Jersey City From Martony Investments LLC For $2.53M

Located in Jersey City, the mixed-use property at 17 & 19 St Pauls Ave recently changed hands in a closed sale transaction. The property consists of 11 residential units and 1 commercial space, making it a valuable investment opportunity. Situated on a corner lot, the property also includes a parking lot at the rear. The transaction was marked as an off-market sale, and the purchase was completed using a 1031 exchange.

Summary of transaction details

• Property Type: Mixed-use
• Transaction Amount: $2,530,000
• Address: 17 & 19 St Pauls Ave, Jersey City
• Market: Jersey City
• Size: 5,000 square feet
• Price per square foot: $506

The buyer of the property is 295 Sherman LLC, while the seller is Martony Investments LLC. Representing the buyer in this transaction are Tyrell Brown and Natalia Diamantopoulos from West Hoboken Residential. Their expertise and negotiation skills played a crucial role in facilitating the successful acquisition of the property.

This closed transaction showcases the potential for value-add opportunities in the real estate market. With 11 residential units and a commercial space, the property offers a diverse range of income streams. The inclusion of a parking lot adds further convenience for tenants and customers. The buyer, 295 Sherman LLC, made use of a 1031 exchange, indicating a strategic approach to optimize their real estate investments.