Here’s another unique investment opportunity that just came to market. An existing two story industrial building spanning 21,000 square feet with the potential to be reimagined into a multi-family adaptive reuse project. Plans also exist that call for the demolition of the existing structure to make way for a new 8-story building. Under these plans, 58 residential units could be built along with 35 parking spaces.
Located at 161 Van Wagenen Ave, the property is in close proximity to Mana Contemporary, the new 25 Senate Place and on the same block as the former Puccini’s, which sold for a reported $19.5 million and the new owners are planning significant re-development.
It’s listed for $3.15 million by Janie Spataro at Robert DeRuggiero Inc
[gmap height=”250px”]161 Van Wagenen Ave, Jersey City, NJ 07306[/gmap]
161 Van Wagenen Ave, Jersey City, NJ 07306