Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of a 16,050-square-foot mixed-use property in Jersey City for $6,250,000.
The four-story brick property, located at 358–362 Grove Street, consists of 22 units, including 19 residential apartments and three ground-floor retail spaces. Retail tenants include Chicken & Co. and Jibeichuan Ramen.
“Investor interest in Jersey City remains strong, despite ongoing market challenges,” said Devin Perez, associate director, investments.
“Multiple competitive offers reflect continued demand for well-located, mixed-use assets in transit-oriented downtown markets.”
Perez, Alan Cafiero and Dean Matuszewicz, investment specialists in Marcus & Millichap’s New Jersey office, represented the seller and procured the buyer.
Situated two blocks from the Grove Street PATH station, the property offers direct access to Manhattan and benefits from its location within Jersey City’s established downtown commercial corridor.
