Lazer Herman Acquires MultiFamily Property In Jersey City For $6.1M

Located at 59 Garrison Avenue in Jersey City, this multi-family property was recently sold in a transaction facilitated by Elliot Schechter of Palisade Partners. The property spans over 35,000 square feet and consists of 40 units. The sale price for this asset was $6,100,000, resulting in a price per unit of $152,500. The price per square foot of the property stands at $174.

Summary of transaction details

• Property Type: MultiFamily
• Transaction Amount: $6,100,000
• Address: 59 Garrison Avenue, Jersey City
• Market: Jersey City
• Units: 40
• Price per Unit: $152,500
• Square Footage: 35,000
• Price per Square Foot: $174

Lazer Herman, the buyer, entered into the transaction with Shirley Perlman, the seller. Elliot Schechter, representing Palisade Partners, acted as the broker in this deal.