Capital Realty Associates completes sale of 3-building multifamily portfolio in Jersey City

Howell-based Capital Realty Associates recently announced Solomon Halberstam, sales associate, completed the sale of a three-building multifamily portfolio in Jersey City for $6.9 million.

The properties included 6, 8 and 10 Bergen Ave., a 24-unit building, 484 Central Ave., a seven-unit building, and 938 Westside Ave., a 12-unit building. The buyer is a New York-based private investor.

“The multifamily sector in Jersey City is extremely active, with numerous property sales taking place throughout the city,” Halberstam stated. “Despite higher interest rates and other economic uncertainties, this market remains very hot, and continues to be a target for investors who are looking to capitalize on incredible rent growth and new development going on all over Jersey City and the New York Metro area.”