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240 Jewett Avenue
SOLD

Marcus & Millichap Brokers Jersey City Multifamily Sale For $1.135M

240 Jewett Avenue

MultiFamily
6,894 SF
clock iconSold 86 days ago
Jonathan Zamora
Eve Parker
the dealplayerscompscontact
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Summary

Sale
NEW JERSEY
MultiFamily
6,894 sqft

A multifamily property located at 240 Jewett Avenue in Jersey City was recently sold for $1.135 million. This property consists of 7 units spanning across 6,894 square feet, resulting in a price per unit of $162,143 and a price per square foot of $165. The sale was facilitated by Marcus & Millichap, showcasing the attractiveness of the Jersey City market to investors from New York City.

Summary of transation details:

  • Property Type: Multifamily
  • Transaction Amount: $1,135,000
  • Units: 7
  • Square Footage: 6,894
  • Price Per Unit: $162,143
  • Price Per Square Foot: $165
  • Address: 240 Jewett Avenue
  • Market: Jersey City

Eve Parker and Jonathan Zamora from Marcus & Millichap played crucial roles in securing attractive pricing at a 4% cap rate for this transaction. Their efforts led to an all-cash deal with strong terms, underscoring the demand for multifamily properties in Jersey City among investors seeking favorable investment opportunities.

Players

  • All

    3

  • Agents

    2

  • Agencies

    1

Jonathan Zamora's profile picture
Jonathan Zamora
Marcus & Millichap-image
Vice President Investments
$48M Sold
Eve Parker's profile picture

Details

Deal Summary
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SOLD
IMAGE: Eve Parker & Jonathan Zamora DATE: 03/01/2024 ADDRESS: 240 Jewett Avenue MARKET: Jersey City ASSET TYPE: Multifamily BROKERS: Eve Parker & Jonathan Zamora (@TheZamoraTeam) - Marcus & Millichap (@MarcusMillichapinc) SALE PRICE: $1,135,000 UNITS: 7 ~ PPU: $162,143 SF: 6,894 ~ PPSF: $165 NOTE: A Jersey City multifamily property sold for $1.135 million, highlighting the city's allure for NYC investors due to less restrictive rent control laws. Marcus & Millichap secured attractive pricing at a 4% cap rate, facilitating an all-cash transaction with strong terms.

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Address240 Jewett Avenue

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