14 Units Near Grove Street PATH in Jersey City Fetch $5.3M

244 2nd St Jersey City Sold
244 2nd Street, Jersey City. Photo courtesy of Marcus & Millichap.

Two properties at 244 2nd Street and 198 Morgan Street traded to two international funds, brokerage firm Marcus & Millichap announced recently. The properties comprised a total of 14 units and traded for $2.95 million and $2.38 million, respectively, selling at an average price per unit of $378,571.

According to the brokerage firm, 244 2nd Street is an eight-unit walkup while 198 Morgan Street consists of six units.

244 2nd Street contains eight 2.5-bedroom apartments, according to Loopnet. The property was built in 1920 on a roughly 2,600-square-foot site. The rental building is 0.3 miles from the Grove Street PATH station and the Harsimus Cove Hudson-Bergen Light Rail station.

198 Morgan Street is a six-unit multifamily property steps from the Grove Street PATH station. According to property records, the six-unit property was last traded in 2002. The property is located steps from the Wine & Whiskey Bar and Ironstate Development’s 50-90 Colombus developments.

Marcus & Millichap said the properties were traded by two private investors.



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