JERSEY CITY, N.J. (March 2, 2015)Â â€“ CBRE Group, Inc. announced today it has arranged the sale of a four-acre development site in Jersey City, NJ, for $19.5 million. The property is comprised of an assemblage of underutilized buildings, including a large warehouse distribution facility, several multifamily homes, Pucciniâ€™s Restaurant â€“ a landmark establishment â€“ and associated parking. The seven-lot assemblage is located at 1075 W. Side Ave, 1072 W. Side Ave, 1064 W. Side Ave, 54 Broadway and 153 Corbin.
Charles Berger and Robert Lâ€™Abbate of CBRE Capital Marketsâ€™ Investment Properties team in New Jersey, and Elli Klapper of CBRE Capital Marketsâ€™ Investment Properties team in New York represented the seller and procured the buyer in the transaction. The team worked alongside local Jersey City brokers Robert Antonicello and Robert Antonicello, Jr.