1053-1057 Broadway in Bayonne — Courtesy: Marcus & Millichap
By Joshua Burd
A private investor has sold a 14-unit apartment property in Bayonne, in a $1.7 million deal arranged by brokers with Marcus & Millichap.
The firm said Friday that it represented both parties in the sale of 1053-1057 Broadway, following a deal that drew more than a dozen offers. Marcus & Millichap touted the building’s uptown location and its value-add opportunity with a development site on an adjacent lot.
Jonathan Zamora, a senior investment specialist in Marcus & Millichap’s New Jersey office, represented the seller. Marcus & Millichap investment specialists Brent Hyldahl, Ben Sgambati and Alan Cafiero represented the buyer, also a private investor.
“The competitive buying environment made the deal all cash with no contingencies, having due diligence done upon signing contract,” Zamora said. “The buyer came from another team within our office that specializes on a different product type.”