Marcus & Millichap, a commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced Nov. 3 the sale of a 13,600-square-foot, mixed-use property in Perth Amboy for $2.98 million.
“We’re pleased to announce the sale of 112–114 Smith St. in downtown Perth Amboy,” said Brent Hyldahl, managing director investments in Marcus & Millichap’s New Jersey office. “This transaction highlights the continued demand for stabilized mixed-use assets in walkable downtown cores across New Jersey.”
Hyldahl and Alan Cafiero represented the seller, 112 Smith Street Realty Trust, and procured the buyer, 112-114 Smith Street, LLC.
The three-story building is at the Five Corners intersection in downtown Perth Amboy. The property includes 10 residential units and one ground-floor retail space leased to Alex Diamonds and was fully occupied at the time of sale. It features two studios, six one-bedroom units and two two-bedroom units.
The property is accessible from the Garden State Parkway, New Jersey Turnpike and Route 9, and is minutes from the Outerbridge Crossing connecting New Jersey and Staten Island.
