34 — August 2026 — Owners, Developers & Managers — M id A tlantic Real Estate Journal
www.marej.com
O wners , D evelopers & M anagers
Betesh completes multifamily and mixed-use transactions in Bayonne, Clifton & Jersey City ICON Real Estate Advisors arranges three Northern NJ sales totaling nearly $9 Million
C
CLIFTON/BAY - ONNE/JERSEY CITY HEIGHTS ,
NJ — ICON Real Estate Advi sors has arranged three North - ern New Jer - sey invest - ment sales to - taling $8.975 million.
David Betesh
604-618 Van Houten Ave. in Clifton
61 Concord St. in Jersey City Heights
5-7 Kelly Pkwy. in Bayonne
David Betesh , director of multifamily at ICON, arranged the $4.1 million off-market sale of a 25-unit apartment building at 5-7 Kelly Pkwy. in Bayonne.
cember 2024 sale of a 36-unit apartment building at 41-43 Kelly Pkwy. “The property generated
strong investor interest be - cause it combined stable income with the potential to increase residential rents by at least 30% over time,” said Betesh. “Representing both the buyer and seller allowed us to effi - ciently guide the transaction to a successful outcome.” In Clifton, ICON arranged the $3.1 million sale of 604-618 Van Houten Ave., a mixed-use property comprising 11 apart - ments, five retail spaces and 30 parking spaces. Betesh represented both the seller, Van Houten Inves - tors LLC, and the buyer. The asset was broadly marketed and generated multiple offers before closing. Located across five contigu - ous parcels, the property in - cludes one one-bedroom apart - ment and 10 two-bedroom apartments. Its retail compo - nent is fully occupied by five neighborhood businesses. The property is near the Clifton Train Station and several NJ Transit bus routes. “This offering generated strong investor interest be - cause it combined stable retail tenancy with significant up - side in the residential apart - ments,” said Betesh. “We were pleased to represent both the buyer and seller and guide the transaction through a competitive marketing process that resulted in multiple offers and a successful outcome.” ICON also arranged the $1.775 million sale of a 16-unit multifamily property at 61 Con - cord St. in Jersey City Heights. Betesh exclusively represented the buyer, 61 Concord Holdings LLC. Ginnita Corp. sold the property as part of an estate disposition following more than 35 years of ownership. The three-story building com - prises four studios, eight one- bedroom apartments and four duplex one-bedroom units. The property offers value-add poten - tial, with its existing rents below prevailing market levels. MAREJ
Betesh representedboth the Brancatella family, which sold the property after more than 50 years of ownership, and
the buyer. The transaction marks the second multifamily sale Betesh has completed on Kelly Pkwy., following the De -
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