An investor has sold a 13-unit apartment building in Asbury Park for $2.3 million, in a deal that comes less than three years after it purchased the property.
Residential & Mixed Use
The construction boom in New Jersey is no more evident than in the multifamily and mixed-use sector, thanks to changing demographics and the demand for urban-style living, even in the suburbs.
Institutional buyers, able to see past short-term uncertainty, still finding value in New Jersey
After treading lightly for much of the past year, institutional investors appear poised to accelerate their commercial real estate spending in 2021. New Jersey and other suburban markets could benefit in the near term as buyers await the return of New York City — especially in an apartment sector that is regaining its footing after stumbling during the pandemic.
