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Multifamily

837-849 Bergen Ave, Jersey City

845 Bergen Ave, Jersey City, NJ 07306

Listing Price: Request For Offer

Number of Units
24
Gross SF
24,139

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale 837-849 Bergen Avenue in Jersey City. The subject property is a three story, mixed use brick building with 16 apartments and 8 retail spaces with massive upside. In addition to being a repositioing opportunity, the property has a development component entitled for 11 stories with minimal parking requirment. Journal Square is a lively business district, residential area and transportation hub. Jersey City is becoming a more prosperous area for people seeking an affordable alternative to New York City. The property is an approximately a 7-minute walk from Journal Square PATH Station with a 11-minute trip to the World Trade Center and a 23-minute ride to Midtown Manhattan via Path, situated closely to Newark Liberty Airport, JFK and La Guardia Airport. The property has easy access to Route 1 & 9, Interstate 95, I-78, and are in walkable distance to restaurants, theaters and many national retailers. 837-849 Bergen Ave is located in the Journal Square section of Jersey City. Journal Square historically has been the center of commerce for the state’s second largest city, a retail center to which people have flocked for decades. Hudson County, and specifically Jersey City, has seen a massive influx in development and capital investors. The first tower constructed off the Gold Coast in over a decade was constructed in Journal Square by The Kushner Companies and the City has approved multiple large projects to attract New Yorkers.

Investment Highlights

  • There is currently 108% upside in existing apartment rents and 68% upside in commercial rents
  • Entitled for 11 story mixed use development
  • The property is located an approximately 7 min walk from the Journal Square Transportation Center

Exclusively Listed By

Multifamily

837-849 Bergen Ave, Jersey City

Listing Price: Request For Offer

Number of Units
24
Gross SF
24,139

Investment Highlights

  • There is currently 108% upside in existing apartment rents and 68% upside in commercial rents
  • Entitled for 11 story mixed use development
  • The property is located an approximately 7 min walk from the Journal Square Transportation Center

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale 837-849 Bergen Avenue in Jersey City. The subject property is a three story, mixed use brick building with 16 apartments and 8 retail spaces with massive upside. In addition to being a repositioing opportunity, the property has a development component entitled for 11 stories with minimal parking requirment. Journal Square is a lively business district, residential area and transportation hub. Jersey City is becoming a more prosperous area for people seeking an affordable alternative to New York City. The property is an approximately a 7-minute walk from Journal Square PATH Station with a 11-minute trip to the World Trade Center and a 23-minute ride to Midtown Manhattan via Path, situated closely to Newark Liberty Airport, JFK and La Guardia Airport. The property has easy access to Route 1 & 9, Interstate 95, I-78, and are in walkable distance to restaurants, theaters and many national retailers. 837-849 Bergen Ave is located in the Journal Square section of Jersey City. Journal Square historically has been the center of commerce for the state’s second largest city, a retail center to which people have flocked for decades. Hudson County, and specifically Jersey City, has seen a massive influx in development and capital investors. The first tower constructed off the Gold Coast in over a decade was constructed in Journal Square by The Kushner Companies and the City has approved multiple large projects to attract New Yorkers.

Exclusively Listed By

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