6B — December 23, 2016 - January 12, 2017 — Industry Leaders — Owners, Developers & Managers — M id A tlantic

Real Estate Journal


I ndustry L eaders

Sales associate Davis Briones leads sale of 44 units and an office building Kislak completes $8.7 million Hudson County, NJ investment sales

nounced the recent sal e of six invest- ment proper- ties in Jersey City and Bay- onne, Hudson County, New Jersey for a total of $8.672 million. W

164 Delaware Ave. in Jersey City for $700,000; a 4,000 s/f office building at 526 Broad- way in Bayonne for $577,500; a 6-unit property at 167 Clen- denny Ave. in Jersey City for $575,000; a 6-unit building at 123 West 54th St. in Bayonne for $500,000 and a 6-unit building at 45 West 54th in Bayonne for $494,500. Sales associate Davis Briones represented the seller in each transaction. He also repre- sented the purchasers of the Bayonne properties. “Davis is a rising star at Kislak and has become a ‘go-to’ expert in and around

Bayonne,” said Robert Hol- land , president. “These sales are the result of his hard work and dedication to our clients, and I applaud his accomplish- ments.” “Many Hudson County mul- tifamily properties generate a significant return, often in a relatively short amount of time given the market’s strong tenant base and proximity to New York City,” said Briones. “Demand is soaring among investors for properties. New owners often achieve rent growth shorty after closing.” The Gateway is newly a con- structed, four-story apartment building situated above a two- story concrete parking garage with 20 residential units and 24 parking spaces. All of the units have a balcony or ter- race, in-unit washers and dry- ers, stainless steel appliances, hardwood floors and walnut cabinets. The top floor has 12 foot ceilings. The property is centrally located on Avenue E near shopping and restau- rants, and is within walking distance of the Hudson Bergen Light-Rail with direct access to Manhattan. 526 Broadway is a two- story brick building with ap- proximately 4,000 s/f of office space. The building was owned through three generations of lawyers who had an estab- lished business in Bayonne. The building will be reno- vated by the purchaser for a medical office. The Hudson Bergen Light-Rail stop is two blocks from the property on the corner of East 22nd St. and Ave. E. 164 Delaware Ave. and 167 Clendenny Ave. in Jersey City are both three-story buildings with six two-bedroom units, conveniently located in Jersey City’s West Side section near shopping and dining. The properties are close to trans- portation, near U.S. Highway 1-9, New Jersey Transit bus stops and one mile from Jour- nal Square. 123 West 54th St. and 45 West 54th St. in Bayonne are two, three-story buildings with six residential units. Both properties are conveniently located near Kennedy Boule- vard with access to shopping, bus stops, the Hudson Bergen Light-Rail, I-78 and Rte. 440. Davis Briones joined Kislak in 2014 and specializes in the sale of multifamily and other investment properties in Hud- son County, New Jersey. n

O O D B R I D G E , NJ — The Kislak Company, Inc. an-

Davis Briones

The separate transactions include the sale of The Gate- way, a 20-unit apartment building for $5.825 million in Bayonne; a 6-unit building at

The Gateway

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