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.