A private investor just plunked down $3.2 million for a 29,577 square foot mixed-use building in Bayonne known as Broadway Plaza. The 5-story building at the corner of Broadway and 22nd Street is comprised of office suites above ground floor retail.
The transaction was handled by investment specialists Alan Cafiero, David Cafiero and Ben Sgambati of Marcus & Millichap who represented both sides of the deal. Neither the seller nor buyer were disclosed.
The sale is another indicator of the growing investor interest in Bayonne, which offers a great value proposition to investors turned off by rising prices in Jersey City. A prominent building in the central business district can be picked up for a fraction of what it would fetch just a few miles north.
[gmap height=”250px”]473 Broadway, Bayonne, NJ 07002[/gmap]
473 Broadway, Bayonne, NJ 07002