Capital Realty Associates, a leading New Jersey-based commercial real estate brokerage firm specializing in multifamily property sales, recently announced Solomon Halberstam, sales associate, completed the sale of a three-building multifamily portfolio in Jersey City, New Jersey. The properties included 6, 8 and 10 Bergen Avenue, a 24-unit building, 484 Central Avenue, 7-unit building and 938 Westside Avenue, a 12-unit building. The buyer is a New York-based private investor. The sale price was $6.9 million.
“The multifamily sector in Jersey City is extremely active with numerous property sales taking place throughout the city,” said Halberstam. “Despite higher interest rates and other economic uncertainties, this market remains very hot, and continues to be a target for investors who are looking to capitalize on incredible rent growth and new development going on all over Jersey City and the New York Metro area,” he added.