HOBOKEN, NJ — Marcus & Millichap, announced the sale of 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 manager of the firm's New Jersey office.
"We were able to create a competitive buying environment 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 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 Marcus & Millichap's New Jersey office, who secured and represented the sellers and buyers, both private investors, for both properties.