Press Releases
Marcus & Millichap Sells Union City Multifamily Property for $2 Million
February 15, 2024
UNION CITY, N.J., Feb. 15, 2024 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of an 11,400-square-foot multifamily property in Union City, New Jersey. The asset sold for $2 million.
"Union City remains a sound investment, being in one of the densest cities of the country with a very tight rental market. This deal became highly attractive to our purchaser due to the current cashflow and attractive financing we facilitated with the seller,” said Jonathan Zamora. “Running our wide-reaching marketing process, we were able to go into a contract with no contingencies and close quickly, achieving our sellers' goals, which other local brokerages had previously failed to meet in marketing the listing."
Zamora, an investment specialist in Marcus & Millichap’s New Jersey office, had the exclusive listing to market the property on behalf of the seller and procured the buyer, both private investors.
Located at 721 6th St., this three-story multifamily property is situated in Union City within walking distance to Washington Square Park and is three miles to Hoboken and Jersey Heights. The property is comprised of 11 units, including all two-bed/one-bath units. National retailers nearby include Walgreens, FedEx, and Wells Fargo.
"Union City remains a sound investment, being in one of the densest cities of the country with a very tight rental market. This deal became highly attractive to our purchaser due to the current cashflow and attractive financing we facilitated with the seller,” said Jonathan Zamora. “Running our wide-reaching marketing process, we were able to go into a contract with no contingencies and close quickly, achieving our sellers' goals, which other local brokerages had previously failed to meet in marketing the listing."
Zamora, an investment specialist in Marcus & Millichap’s New Jersey office, had the exclusive listing to market the property on behalf of the seller and procured the buyer, both private investors.
Located at 721 6th St., this three-story multifamily property is situated in Union City within walking distance to Washington Square Park and is three miles to Hoboken and Jersey Heights. The property is comprised of 11 units, including all two-bed/one-bath units. National retailers nearby include Walgreens, FedEx, and Wells Fargo.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.
