211 Baldwin St. in Jersey City — Courtesy: Marcus & Millichap
By Joshua Burd
A developer has acquired a newly built, 45-unit apartment building in Jersey City’s Journal Square section for $17.7 million, in a deal arranged by Marcus & Millichap.
Jonathan Zamora, a broker with the firm, represented the seller in the transaction at 211 Baldwin St. He also procured the undisclosed buyer, noting that the six-story property known as 6ixBoroJC has amenities such a fitness center, on-site parking, a pet washing station and a resident lounge.
“Journal Square has witnessed a surge in recent development, with new projects finally breaking ground and being constructed,” said Zamora, a first vice president of investments with the firm. “This expansion of the neighborhood speaks to the demand for high-quality assets like 6ixBoroJC. This sale demonstrates our ability to navigate the volatile interest rate market and successfully close deals despite the challenging environment we are in.”
In a news release, Marcus said the luxury building consists of three studio, 35 one-bedroom and seven two-bedroom apartments. Residents are a six-minute walk from the Journal Square PATH Station, which provides direct access to Lower and Midtown Manhattan.