A real estate investment firm has sold a two-building, 68-unit apartment portfolio in Jersey City for $13.8 million, in a newly announced deal by Hudson Atlantic Realty.
According to the listing team, which represented Axial Partners in the sale, an undisclosed investor purchased the properties at 546 and 565 Bergen Ave. The deal closed with a hard, noncontingent contract that Hudson Atlantic said was rare in an environment of rising interest rates, tighter lending standards and general uncertainty in the capital markets, making the deal noteworthy while highlighting the appeal of well-located multifamily assets in Jersey City.
Axial Partners sells 68-unit Jersey City rental portfolio for $13.8 million, Hudson Atlantic says