An aerial showing 1211 New York Ave. in Union City — Courtesy: Marcus & Millichap
By Joshua Burd
A private investor has purchased a vacant 17,500-square-foot parcel in Union City, in a $1.6 million transaction announced Wednesday by Marcus & Millichap.
The firm said it represented both the seller, a private owner, and the buyer of the tract at 1211 New York Ave. In a news release, brokers touted the property as a candidate for multifamily development just miles from Jersey City and Manhattan.
Marcus & Millichap investment specialists Fahri Ozturk, Karly Iacono and Jonathan Zamora completed the transaction out of the firm’s Saddle Brook office.