Investor Acquires Mixed-Use Building In Jersey City For $6.25 Million Represented By Marcus & Millichap

An investor acquired a mixed-use building at 358-362 Grove Street in Jersey City for $6.25 million. The property consists of 19 apartments and three ground-floor retail spaces, encompassing a total of 16,050 square feet. The four-story structure is located two blocks from the Grove Street PATH station, with retail tenants including Chicken & Co. and Jibeichuan Ramen.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $6,250,000
• Units: 19
• Price Per Unit: $328,947
• Square Feet: 16,050
• Price Per Square Foot: $389
• Address: 358-362 Grove Street
• Market: Jersey City

The transaction was facilitated by a team from Marcus & Millichap, comprised of brokers Devin Perez, Alan Cafiero, and Dean Matuszewicz, who represented the seller in this deal.