B6 Real Estate Advisors (B6), the New York City (NYC)-based investment sales and capital advisory brokerage led by industry veteran Paul J. Massey, Jr., has announced the sale of four properties encompassing approximately 50,000 square feet across Hudson and Union Counties in New Jersey, totaling a value of $12.75 million
“These deals showcase B6’s continued growth throughout the New Jersey market,” said Yanni Marmarou, Director at B6, whose team spearheaded the respective Hudson and Union County sales. “As prices in New York have risen, the NJ market has become increasingly more competitive. Two trends we have been seeing is the demand for multifamily space and industrial property. These four sales exemplify the movement in these spaces as investors quickly jumped at the opportunities.”
The recent sales include:
· 106-116 & 118-126 Halladay Street, Jersey City, NJ
o This 27,500 square-foot development site was purchased by The Halladay Plaza LLC for $5,725,000. The property is located at the northern side of Halladay Avenue, between Carteret Avenue and Forrest Street. The buyer is considering a wide range of uses for the site including senior housing, assisted living, market rate or a combination of all three.
· 6006 Kennedy Boulevard, West New York, NJ
o This six-unit, 5,250 square-foot mixed use building was purchased by Burhan Management for $1,275,000. The 3-story property consists of five residential units and one retail unit on the ground floor. The property is located on the west side of West New York along John F. Kennedy Boulevard, between 60th and 61st Streets. The buyer plans to hold this as a value-add investment property.
· 423 Bacheller Avenue & 2400 Urbanowitz Avenue, Linden, NJ
o These properties total 11,376 square feet (A 6,000 square-foot warehouse and 5,376 square-foot vacant lot). The properties were purchased together for $1,250,000 and will be used by a distribution company. The warehouse is located at 423 Bacheller Avenue which is directly off Route 1 & 9 South, and the vacant lot is located at 2400 Urbanowitz Avenue on the corner of Urbanowitz Avenue and Bacheller Avenue.
· 2005 Kennedy Boulevard, Jersey City, NJ
o This 5,700 square-foot property was purchased by Titanium Capital Partners for $4,500,000. The property is a 25-unit multifamily building that consists of 20 one-bedroom and 5 two-bedroom units. The property is in the West Bergen section of Jersey City at the corner of Audubon Avenue and Kennedy Boulevard. The buyer plans to continue running the property for multifamily usage.
For more information on B6 visit and its New Jersey presence, visit: https://b6realestateadvisors.com/