Investment Overview

Marcus & Millichap is pleased to present 197 Bay Street, a highly coveted development opportunity located in the heart of Downtown Jersey City, New Jersey. Situated on a 25’ x 100’ lot, the property falls within the Morgan/Grove/Marin Redevelopment Plan, allowing four stories of residential development as of right with no parking requirement. This rare as-of-right zoning flexibility in one of the most transit-accessible submarkets makes 197 Bay Street an exceptional opportunity for developers and investors alike. Moreover, the site is just two blocks from the Grove Street PATH Station, offering direct and efficient access to Manhattan in under 15 minutes. Additionally, its proximity to the Holland Tunnel, Route 495, and Route 1, places the property within reach of the broader New York metro region. With the surrounding area experiencing a surge in residential and mixeduse developments, the property benefits from sustained demand, rising property values, and increasing tenant interest. Lastly, the potential for seller financing further enhances the investment’s accessibility and appeal.