112-114 Smith St. in Perth Amboy — Courtesy: Marcus & Millichap
By Joshua Burd
An investor has acquired a nearly 14,000-square-foot residential and retail property in downtown Perth Amboy for some $3 million, brokers with Marcus & Millichap said Monday.
According to a news release, the building at 112-114 Smith St. includes 10 residential units and one ground-floor space leased to Alex Diamonds. The brokers added that the three-story, 13,600-square-foot property was fully occupied at the time of sale, benefiting from its location at the city’s Five Corners intersection and proximity to the Garden State Parkway, New Jersey Turnpike and Route 9.
Marcus & Millichap’s Brent Hyldahl and Alan Cafiero represented the seller, 112 Smith Street Realty Trust, and procured the buyer, 112-114 Smith Street LLC, in the $2.98 million deal.
“We’re pleased to announce the sale of 112–114 Smith St. in downtown Perth Amboy,” said Hyldahl, managing director for investments in the firm’s New Jersey office. “This transaction highlights the continued demand for stabilized mixed-use assets in walkable downtown cores across New Jersey.”
