156 Grant Ave. in Jersey City — Courtesy: The Kislak Co. Inc.
By Joshua Burd
An investor has acquired two Jersey City apartment buildings with a combined 27 units, in a $3.2 million sale brokered by The Kislak Co. Inc.
The brokerage on Tuesday announced the sale of the properties, 136 Grant Ave. and 156 Grant Ave., after marketing them on behalf of the sellers. They contain 18 and 9 units, respectively, and are located in the city’s Bergen-Lafayette section.
Daniel Lanni, vice president with Woodbridge-based Kislak, represented both parties in the transaction. He said the properties had an accepted offer in less than 30 days.
“We represented the sellers on an exclusive basis to sell this desirable apartment portfolio in an emerging area of Jersey City,” Lanni said. “We received multiple offers from qualified investors and negotiated a full price offer with an aggressive 1031 exchange buyer.”
New York Community Bank provided financing, Kislak said in a news release.
The buildings consist of two four-story brick buildings with new hardwood floors and appliances and renovated bathrooms with ceramic tiles, the news release said. While 136 Grant Ave. includes one- and two-bedroom apartments, the units at 156 Grant Avenue host solely three-bedrooms.
The properties sit just southwest of downtown Jersey City.