Simcha Herzog Purchases Multifamily Property At 317 Union Street Jersey City For $3.1M

The property asset involved in this transaction is a multifamily building located at 317 Union Street in Jersey City. The sale was finalized at a price of $3,100,000, encompassing a total of 21 residential units. The total square footage of the asset is 14,905, resulting in a price per unit of $147,619 and a price per square foot of $207.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $3,100,000
• Units: 21
• Square Footage: 14,905
• Price Per Unit: $147,619
• Price Per Square Foot: $207
• Buyer: Simcha Herzog
• Seller: Claudio Racki
• Broker: Steven Matovski - Redwood Realty Advisors
• Date of Sale: 12/19/2024

This transaction was facilitated by broker Steven Matovski, representing Redwood Realty Advisors. Both the buyer, Simcha Herzog, and the seller, Claudio Racki, were key individuals in this deal, contributing to its successful closure.