Simcha Herzog's Titanium Capital Partners Acquires Multifamily Property In Jersey City For $4.5M

The property at 2005 John F. Kennedy Blvd in Jersey City has been sold for $4,500,000. The 4-story brick building is a multifamily asset with a total of 25 units. The sale price-per-unit is $180,000, which is considered one of the highest in this neighborhood. The building features 20 one-bedroom and 5 two-bedroom units, with 13 of them being renovated at the time of the sale. Additionally, there is a T-Mobile cell tower located on the roof of the building. The property's approximate size is 23,000 square feet.

Summary of transaction details:

• Property Type: Multifamily
• Transaction amount: $4,500,000
• Units: 25
• Price per unit: $180,000
• Buyer: Simcha Herzog - Titanium Capital Partners
• Seller: Hugh McLinden
• Seller's Representative: Yanni Marmarou & Jack Drillock - B6 Real Estate Advisors
• Market: Jersey City

This transaction showcases the high demand for value-add multifamily assets in Hudson County, despite rising interest rates. The property is situated on Kennedy Boulevard, a main commercial thoroughfare in the market, and is in close proximity to the new-look Jersey City West Side neighborhood.