Grand Gardens at 672 Grand St. in Jersey City — Courtesy: Hudson Atlantic Realty
By Joshua Burd
A private investor has acquired a 16-unit apartment building in Jersey City’s historic Bergen-Lafayette section, in a newly announced deal by Hudson Atlantic Realty.
Brokers say the property, 672 Grand St., traded for $2.35 million at a capitalization rate of 4.46 percent. Adding to the appeal was the building’s proximity to a slew of new developments in the neighborhood and to Hudson-Bergen Light Rail service, which provides commuters with access to Manhattan.
Hudson Atlantic’s Ben Susskind listed, marketed and sold the property with support from Adam Zweibel, co-founder and managing partner of the firm.
“I am thrilled to have closed my first deal only eight months into the industry and to have played a key role in its successful sale,” Susskind said. “The support and mentorship from Adam Zweibel and the entire Hudson Atlantic team were instrumental in achieving this outcome.”
Known as Grand Gardens, the 73-year-old building consists of one- and two-bedroom apartments, Hudson Atlantic said.
“We are proud to have Ben as part of our team, and his success with Grand Gardens represents our commitment to delivering exceptional results for our clients,” Zweibel said. “The collaboration between Ben and the rest of the Hudson Atlantic team highlighted the strength of our collective expertise in the real estate industry.”
