A multi-family property near Jersey City’s Journal Square neighborhood has changed hands not long after construction was wrapped on the project.
Marcus & Millichap, a commercial real estate brokerage specializing in investment sales, recently announced today the sale of a development called 6ixBoroJC. The six-story, 45-unit apartment building is situated at 211 Baldwin Avenue on a formerly vacant parcel that sat unused for over a decade.
The sale of 6ixBoroJC closed at $17,700,000. Jonathan Zamora had the exclusive listing to market the property on behalf of the seller, with the buyer also being procured by Zamora.
“Journal Square has witnessed a surge in recent development, with new projects finally breaking ground and being constructed,” said Jonathan Zamora, first vice president of investments.
“This expansion of the neighborhood speaks to the demand for high-quality assets like 6ixBoroJC,” he added. “This sale demonstrates our ability to navigate the volatile interest rate market and successfully close deals despite the challenging environment we are in.”
The newly constructed, boutique building consists of three studios, 35 one-bedroom units, and seven two-bedroom apartments. Amenities at the complex include a fitness center, on-site parking, a pet washing station, and a resident lounge.
Apartments at 6ixBoroJC feature spacious kitchens, heated bathroom floors, in-unit laundry, and private roof decks and balconies with views of the New York City skyline. The property is just a six-minute walk to Journal Square PATH Station.