6111 Park Ave. in West New York — Courtesy: Marcus & Millichap
By Joshua Burd
A private investor has sold an eight-unit apartment building in West New York for nearly $2.2 million, in a newly announced deal by Marcus & Millichap.
In a news release, the brokerage team said it represented the seller in the transaction at 6111 Park Ave., noting that the collection of two-bedroom apartments recently underwent renovations. The former owner has also converted a two-car garage into retail space, adding to the appeal of the property near JFK Boulevard East and Anthony M. Defino Way.
Marcus & Millichap’s Jonathan Zamora completed the assignment. He also procured the buyer, another private investor, in the $2.115 million deal.
“The seller hired us on a very tight deadline as he had already identified their up-leg on a 1031 exchange,” said Zamora, a first vice president for investments in the firm’s New Jersey office. “We immediately executed our marketing process, generating over 15 offers in writing, ultimately securing the strongest buyer who would close all cash within two weeks of contract signing.”
