ICON Real Estate Advisors has arranged the sale of a 16-unit multifamily property located at 61 Concord Street in Jersey City Heights for $1,775,000.
The transaction was exclusively represented on behalf of the buyer, 61 Concord Holdings LLC, by ICON’s David Betesh. The property was sold by Ginnita Corp as part of an estate disposition after more than 35 years of ownership.
The three-story building comprises 16 apartments, including four studios, eight one-bedroom residences and four duplex one-bedroom units. Situated in the highly desirable Jersey City Heights neighborhood, the property featured value-add potential, with in-place rents well below current market levels.
“This transaction presented an opportunity to acquire a well-located multifamily property under the same ownership for more than three decades at an attractive price on a per-unit basis,” said Betesh. “The buyer saw significant long-term potential in the asset.”
About ICON Real Estate Advisors
Headquartered at 1 Boland Drive in West Orange, New Jersey, ICON Real Estate Advisors was co-founded by Managing Partners David Oropeza and David Jarvis. Collectively, the firm’s partners bring more than 100 years of experience and over $20 billion in combined career transaction volume. ICON leverages longstanding client relationships to provide deep insight into local owners, investors, and market dynamics, with a focus on multifamily investment sales across New Jersey, New York, Pennsylvania, Maryland, and Virginia.
For more information, visit www.icon-rea.com or email [email protected].
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