10B — December 27 - January 16, 2020 — Industry Leaders — Owners, Developers & Managers — M id A tlantic

Real Estate Journal


Industry Leaders

OBOKEN, NJ — Marcus &Millichap , announced the sale of Hunce of the Baltimore office arranges the sale of a 16-unit apartment building Marcus & Millichap completes the sale of two apartment buildings in Hudson County, NJ H

two multifamily properties, one located in Hoboken, which sold for $4 million, and one in Union City, NJ, which sold for $1.86 million, according to Brian Hosey , regional man- ager of the firm's New Jersey office. "We were able to create a competitive buying environ- ment going to market with our process and putting these deals into our system. We are continuing to see a strong flow of investors seeking stability and yield in strong markets

927 Willow Ave in Hoboken, NJ

809-811 27th St, Union City, NJ

like Hudson County. It was an excellent deal for both buyers and sellers on these deals, as the buyer took advantage of a stable return with real upside which has become a rarity in today's rent control world and the sellers capitalized on the timing of the market hitting record high price per units." Said Jonathan Zamora , an investment specialist in Mar- cus & Millichap's New Jersey office, who secured and repre- sented the sellers and buyers, both private investors, for both properties. 927 Willow Ave in Hoboken, NJ is a five-story walk-up with all units newly renovated. 809- 811 27th St, Union City, NJ is a 12-unit apartment building. In a separate transaction, Marcus & Millichap has an- nounced the sale of The Over- lea Apartments, a 16-unit apartment property located in Baltimore, MD, according to Bryn Merrey , regional manager of the firm’s Balti- more office. The asset sold for $1.345 million. Raymond Hunce , an in- vestment specialist in Marcus & Millichap’s Baltimore of- fice, had the listing to market the property on behalf of the seller, a limited liability com- pany. The buyer, a limited li- ability company, was secured and represented by Raymond Hunce as well. The Overlea Apartments is located at 10 & 14 E Overlea Ave in Baltimore, MD. The property consists of two ad- jacent apartment buildings; five and 11-units, respectively. Located just outside the Bal- timore City line, in Baltimore County, The Overlea Apart- ments are situated in a quiet residential area blocks away from Belair Rd., a major retail corridor. 

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