Marcus & Millichap has been selected to exclusively market for sale 837-849 Bergen Avenue in Jersey City. The subject property is a three story, mixed use brick building with 16 apartments and 8 retail spaces with massive upside. In addition to being a repositioning opportunity, the property has a development component entitled for 11 stories with minimal parking requirement.
Journal Square is a lively business district, residential area and transportation hub. Jersey City is becoming a more prosperous area for people seeking an affordable alternative to New York City. The property is an approximately a 7-minute walk from Journal Square PATH Station with a 11-minute trip to the World Trade Center and a 23-minute ride to Midtown Manhattan via Path, situated closely to Newark Liberty Airport, JFK and La Guardia Airport. The property has easy access to Route 1 & 9, Interstate 95, I-78, and are in walkable distance to restaurants, theaters and many national retailers.
837-849 Bergen Ave is located in the Journal Square section of Jersey City. Journal Square historically has been the center of commerce for the state’s second largest city, a retail center to which people have flocked for decades. Hudson County, and specifically Jersey City, has seen a massive influx in development and capital investors. The first tower constructed off the Gold Coast in over a decade was constructed in Journal Square by The Kushner Companies and the City has approved multiple large projects to attract New Yorkers.
Listing courtesy of Fahri Ozturk, Marcus & Millchap.