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Gebroe-Hammer arranges sale in Jersey City South

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The property at 232 Bidwell Ave.
The property at 232 Bidwell Ave. - ()

Commercial real estate firm Gebroe-Hammer Associates recently announced it has completed the sale of 72 units spanning three buildings in Jersey City South.

Senior vice president Nicholas Nicolaou represented the seller, an independent real estate investment firm and completed the transaction for $7.75 million.

“In recent years, the neighborhood has undergone a major transformation associated with revitalization of downtown Jersey City and proximity to suburban Bayonne, which gives its multifamily properties an edge over those located in other parts of the city,” Nicolaou said.

The properties at 158 Bergen Ave., 162 Bergen Ave. and 232 Bidwell Ave. are located within the Greenville neighborhood and were sold to an undisclosed buyer.

In the last 15 months, Nicolaou has completed more than 17 sales in Hudson County, totaling over $85 million and involving 733 apartment rental units. Nicolaou has also closed $68.55 million in sales in West New York and Union County. 

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Mario Marroquin

Mario Marroquin

Mario Marroquin covers real estate. A native of El Salvador, Mario is bilingual in English and Spanish. He graduated from Penn State University and worked in Pennsylvania before moving to New Jersey. His email is mariom@njbiz.com.

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