42 Lienau Place in Jersey City — Courtesy: Marcus & Millichap
By Joshua Burd
A private investor has sold a 12-unit apartment property in Jersey City for $2.3 million, under a transaction arranged by brokers with Marcus & Millichap.
In a news release, the firm said it represented both parties in the sale of 42 Lienau Place. Investment specialists Daniel Aviles and Andrew M. Zuckerman completed the assignment out of the firm’s Saddle Brook office.
“This deal was set to close just as the COVID pandemic was reaching its peak in New Jersey,” Aviles said. “There was a lot of uncertainty in the market, but we successfully managed the process to make all parties, including the lender, comfortable with moving forward and closing in a timely manner.”
The brokerage team noted that the seller recently renovated 42 Lienau Place, with upgrades including a new roof, water heater, soffits and gutters since 2018.