JERSEY CITY, N.J. (February 18, 2015) – CBRE Group, Inc. announced that it has arranged the sale of 205-207 Union Street in Jersey City, N.J., for approximately $1.32 million. The 16-unit multifamily building has recently been fully renovated.

CBREâ€s New York Tri-State Investment Properties team of Charles Berger and Mark Silverman, of New Jersey Investment Properties, and Elli Klapper, of New York Investment Properties, served as the exclusive agents for the seller and procured the buyer in the transaction. The new owner plans to hold the property as an investment as they expand their existing portfolio in New Jersey.

“Being able to secure close to top market price-per-unit in the Bergen/Lafayette submarket displays the strong activity in Jersey Cityâ€s secondary markets,” said Mr. Berger. “The seller, a long-standing CBRE client, recognized the value of investing in Jersey City, one of the hottest markets in New Jersey and an area where our Investment Properties team has become very active.”

Located only one block from John F. Kennedy Blvd and several blocks from Martin Luther King Drive, 205-207 Union Street provides convenient access to New Jersey Transit Bus stops and the Martin Luther King Drive Light Rail station.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the worldâ€s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 52,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 370 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
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The post CBRE GROUP INC. ARRANGES SALE OF 16-UNIT MULTIFAMILY APARTMENT BUILDING IN JERSEY CITY FOR $1.32 MILLION first appeared on River View Observer.

Located in the historic Hamilton Park section of Jersey City, the portfolio consists of two well-maintained apartment buildings, containing a total of seven apartments, two stores and six garages. Each lot measures 25 feet by 100 feet, and one property has four, two-bedroom apartments, while the other has three, three-bedroom units. The buildings are a short walk to the Pavonia-Newport PATH station, and close to the Newport Centre Mall and top-rated Dr. Ronald McNair Academic High School.
“The property attracted many showings because it’s in a very desirable and safe area full of young people and families,” said Kunnapas. “The City recently renovated the nearby actual Hamilton Park with new plantings and light fixtures, two dog runs, an upgraded playground and basketball court, and refurnished gazebo. As a result, the neighborhood has experienced a great deal of development including the addition of luxury condominiums and rehabilitation of historic brownstones.”

About NAI James E. Hanson
Since 1955, NAI James E. Hanson has been a leading independent full-service brokerage commercial real estate and property management firm serving a diverse client list. NAI Hanson offers its clients strategic solutions and provides comprehensive value-added services such as office, industrial and retail brokerage, investment sales, land sales, management, government services and financing expertise.

NAI Hanson is also one of the original members of NAI Global, an international commercial real estate network with over 350 offices spanning the globe. For more information on NAI James E. Hanson, contact William C. Hanson, SIOR, at the company’s Hackensack office at 201-488-5800 or visit www.naihanson.com.

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The post Real Estate VIEWS -NAI HANSON COMPLETES SALE OF MIXED-USE PORTFOLIO IN HISTORIC JERSEY CITY NEIGHBORHOOD first appeared on River View Observer.