American Equity Partners Acquires Office In Jersey City For $48M

An office building totaling 136,000 square feet located at 15 Exchange Place in Jersey City, NJ, has been sold for $48,000,000. The property is situated across the Hudson River from Manhattan and features flexible floorplates, offering views of the Manhattan skyline and waterfront. Notable tenants include Henderson Harbor Group, Muriel Siebert & Co., and Merrill.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $48,000,000.00
• Address: 15 Exchange Pl, Jersey City, NJ, 07302
• Market: Jersey City
• Seller's Rep: Michael Oliver(JLL), Steve Simonelli(JLL), Michael "Mike" Oliver(JLL)
• Buyer: American Equity Partners
• SF: 136,000

The deal was facilitated with the assistance of JLL Capital Markets. The property was previously acquired for $24 million in 2003, half the recent sale price, by the seller, Hartz Mountain Industries Inc. Located in the Hudson Waterfront South submarket, the office building offers an 8,000-square-foot retail space on the ground floor and is easily accessible with nearby public transport options like the Harborside ferry terminal and the Exchange Place PATH station.