4322 Kennedy Blvd. in Union City — Courtesy: Marcus & Millichap
By Joshua Burd
A seven-unit apartment property in Union City has changed hands for just over $1 million, with Marcus & Millichap representing both parties in the deal.
Brian C. Hosey, regional manager of the firm’s New Jersey office, said Investment Specialist Jonathan Zamora had the exclusive listing to market 4322 Kennedy Blvd. on behalf of the seller, a private investor. Zamora also secured and represented the buyer, a developer.
“The property fetched over 12 offers because of the great location, condition of the building and upside in the rent roll,” Zamora said in a prepared statement. “This allowed us to achieve over $146,000 a unit which is record-setting in Union City for a prewar multifamily property.”