Hudson Atlantic Realty brokers $13.8M sale of Jersey City multifamily portfolio at record price
- MAREJ
- 3 hours ago
- 2 min read
Axial Partners’ Hudson County portfolio secures rare non-contingent buyer interest
Jersey City, NJ — Hudson Atlantic Realty has arranged the sale of a two-building multifamily portfolio in Jersey City for $13.8 million, exclusively brokered by Adam Zweibel, president of Hudson Atlantic Realty, on behalf of Abe Weinberg of Axial Partners.
The portfolio, located at 546 Bergen Avenue and 565 Bergen Avenue, includes 68 rent-controlled apartments and one retail space in the West Bergen / McGinley Square section of Jersey City.
The sale equates to $200,000 per unit, setting a record per-unit price for older rent-controlled assets in this area of Jersey City.
What makes this transaction particularly notable is that the buyers executed a hard, non-contingent contract — a rarity in today’s environment of rising interest rates, tighter lending standards, and general uncertainty in the capital markets. In a climate where most deals are dragging under financing and due diligence hurdles, the ability to secure a fully committed, non-contingent agreement underscores the resilience of the multifamily sector and the appeal of well-located Jersey City assets.
“This transaction highlights the depth of investor demand for Jersey City multifamily, even for older rent-controlled assets,” said Zweibel. “Our strategic process produced multiple qualified offers and ultimately delivered a record-breaking outcome for our client.”
The buyer was identified by Nick Favorito, vice president at Hudson Atlantic Realty, who added: “In today’s market, executing a non-contingent deal is extremely rare. This closing illustrates that serious investors remain ready to deploy capital aggressively for the right opportunities, especially in transit-oriented submarkets like Jersey City.”
The properties benefit from close proximity to Journal Square PATH station, major highways, and key employers such as Saint Peter’s University, Jersey City Medical Center, and Christ Hospital.