335 Central Ave. in Jersey City — Courtesy: Keller Williams Realty Inc.
By Joshua Burd
A private investor has acquired an eight-unit apartment building in Jersey City for $3.3 million, in a transaction arranged by Keller Williams Realty Inc.
Tom Misuraca, an agent with the brokerage firm, represented the buyer of the 7,900-square-foot property at 335 Central Ave. He noted that the building was completed in 2017, helping to drive a sale price that equates to more than $412,000 per square foot.
“It was a cash deal and the buyer and I recognized the upside in the building as it is exempt from rent control,” Misuraca said. “As the leases renew, rent will increase along with the value of the building.”
