900 Avenue C in Bayonne — Courtesy: Veerman Asset Management
By Joshua Burd
The longtime owners of a 24-unit apartment building in Bayonne have sold the property for $4.4 million, according to a brokerage team with Veerman Asset Management.
The buyer, which was undisclosed, was among 15 would-be investors to make qualified offers for the asset at 900 Avenue C, the listing team said. The deal marks the first time the asset has changed hands in more than 30 years, making it a significant milestone for the seller’s family.
Veerman CEO Manveer Sanghera worked alongside the firm’s newest team member, Alex Morgan, in representing the seller. They touted the deal as one of the highest price-per-unit transactions for similar vintage multifamily properties in Bayonne’s history, demonstrating continued investor demand despite the high interest rate environment.
“This was an emotional transaction for our sellers, who had this asset in the family for over 30 years,” Sanghera said. “Alex did a great job guiding the family through the process, and our marketing platform ensured we received multiple competitive offers that brought the highest possible price and terms.”
Morgan added: “It was a great deal from start to finish. We’re grateful to have been selected by the family to lead this sale. The property will serve the new owners well as Bayonne continues to experience a strong and steady rental market.”
