The Kislak Company, Inc. announced the recent sale of 2Six Apartments, a new 18-unit luxury residential building at 1209 26th Street in North Bergen for $6,775,000.
Kislak marketed the property exclusively with Senior Vice President Davis Briones handling the assignment, and he also procured the purchaser, who utilized the purchase to complete an all-cash I.R.C Section 1031 Exchange. The parties were not disclosed.
2Six Apartments is a newly constructed, three-story brick multifamily property with 18 units, with six oversized one-bedroom units with dens and 12 one-bedroom units. Apartment features include laminate wood flooring throughout with tiled bathroom floors, in-unit washers and dryers, and Samsung stainless-steel kitchen packages.
The property offers on-site parking for 22 vehicles, including two electric vehicle-charging stations. Tenants are responsible for all utilities.
“The property traded at a 5.5% cap rate, which aligns with historical norms for new construction, typically ranging between 5.0% and 5.5%,” said Briones.
“After a period of cap-rate expansion into the 6% range over the past two years, which were driven by higher interest rates, cap rates are beginning to compress. This trend is constructive for developers and owners evaluating disposition or refinancing opportunities in 2026.”
Located just outside of the Lincoln Tunnel, the property offers access to Manhattan via a nearby bus stop providing direct service to the Port Authority in approximately 15 minutes.
Centrally positioned within North Bergen, 2Six Apartments also benefits from convenient proximity to a wide array of retail, dining and neighborhood amenities.
Mohammed H. Amin, Esq., of Onal Gallant Bayram & Amin PC, provided legal representation for the seller, and Judy Leach, Esq., of the Law Offices of Sardar Asadullah represented the purchaser.
The property was fully occupied at the time of sale.
