Marcus & Millichap inks sale of a $14M multifamily prop.
West New York, NJ — Marcus & Millichap announced the sale of Jaclyn 40, a 40 unit, 36,000 s/f multifamily property located at 5817 Jefferson Ave. in West New York, NJ, for $14 million according to James McGuckin, regional manager of the firm’s New Jersey office.
Fahri Ozturk and Richard D. Gatto, investment sales specialists and Joseph Belgiovine, Marcus & Millichap Capital Corporation, in Marcus & Millichap’s New Jersey office, had the listing to market the property on behalf of the seller, a private owner. They also secured and they also procured the buyer, a private investor, a private investor. "Jaclyn40 represented a rare opportunity to purchase an extremely well-built multifamily asset producing strong cash flows along the Gold Coast in Hudson County.” Ozturk, a Hudson county specialist added. The property is in walking distance from the Bergenline Ave. and Tonnelle Ave. Light Rail Station.