20B — December 13 - 26, 2019 — New Jersey — M id A tlantic
Real Estate Journal
www.marej.com
N ew J ersey
Matovski procures both sellers and purchasers in the transactions Redwood Realty Brokers $4 million in Hudson County transactions
UDSON COUNTY, NJ — Redwood Re- alty Advisors has recently completed the sale of H
three-bedroom duplexes built in 2011. The property was sold by the original developer. • 7328 Kennedy Blvd. in North Bergen: This property consists of 17 units and is cen- trally located along Kennedy Blvd., which is one of Hudson County’s largest thoroughfare. “We continue to see prices spike due to the current inter- est rate environment,” said Steven Matovski , a director at Redwood Realty Advisors. For example, Communipaw traded at $225K per unit, which is a testament to the high demand for quality mul-
tifamily in this emerging Jer- sey City neighborhood. “Both properties are positioned for a great value-add opportunity with 20% unrealized upside in rents and a possible condo exit strategy on Communipaw,” added Matovski. Matovski procured both sellers and pur- chasers in the transactions. NAI James E. Hanson's Vindigni negotiates sale of 5,000 s/f office building in Mount Olive, NJ MOUNT OLIVE, NJ — NAI James E. Hanson has negoti- ated the sale of a 5,000 s/f of- ham Associates, LLC, and the buyer, SNAP Creative Market- ing, LLC in the transaction. Formerly the site of a Mon- tessori school, 425 Sand Shore Rd. is a two-story 5,000 s/f of- fice building with proximity to Route 46. After sitting vacant for several years, the property was eventually bought by an investment group. Recognizing the property’s size and prime location would be ideally suited to his client, SNAP Creative Marketing, LLC, NAI Han- son’s Vindigni tracked down the investment group and was able to put together a mutually beneficial deal for the property. In Maywood, NAI James E. Hanson has negotiated a 1,830 s/f lease at 240 West Pas- saic St. NAI James E. Hanson’s Darren Lizzack and Randy Horning represented the ten- ant, Comprehensive Endocri- nology, P.C., and McBride Corporate Real Estate’s Kevin O’Rourke represented the landlord, Miraj Realty, LLC, in the transaction. 240 West Passaic St. sits on a primary road connecting Hack- ensack, Maywood and Rochelle Park. With proximity to Rte. 17 and a location less than two miles fromHackensack Univer- sity Medical Center, the 18,000 s/f, two-story medical office building offers an ideal location and easy accessibility to a wide pool of prospective patients. Joseph Vindigni fice building at 425 Sand Shore Rd. in Mount Olive. NAI James E. Hanson’s Joseph Vin- digni repre- sent ed the seller, Mend-
two proper- ties in Hud- son County for a com- bined price of $4.05 mil- lion. • 481-487 C o m m u - nipaw Ave.
Steven Matovski
in Jersey City: This 8-unit project is located in the Ber- gen-Lafayette Neighborhood and features a mix of two- and
481-487 Communipaw Ave. in Jersey City
P o s k a n z e r S k o t t A r c h i t e c t s 550 North Maple Avenue, Ridgewood, NJ 07450 201.445.2322 www.poskanzerskott.com
Made with FlippingBook HTML5