860 Bergen Ave, Jc, Journal Square, NJ

Name: 860 Bergen Ave, For Sale in Jc, Journal Square - Zoocasa
Brand: COMPASS NEW JERSEY, LLC
SKU: 260013231
Price: 4450000 USD

House

For Sale

Listed price in listed location currency (USD).

$4,450,000

000

MLS® 260013231

Overview

Key Facts

Type

Levels Residential Income

Size -

Garage

Taxes

Days Active 13

Lot Size

Approx. Age

MLS® Number 260013231

Property Address: 860 Bergen Ave, JC, Journal Square, NJ, 07306

Average square foot calculated using Size range provided by listing agent.

Description

Exclusive opportunity to acquire 860 Bergen Avenue (“Property”), on a 25x75 lot along with adjoining property at 10 Smith Street on a 25x74 lot. With as of right zoning to develop a luxury high-rise apartment community in vibrant Journal Square — Jersey City’s rapidly transforming central business district. Currently, the Property houses a mixed-use building totaling 6 apartments and 2 commercial spaces. Corner commercial space is vacant; and the rest of leases are on a short-term or month-to-month basis. The Property benefits from immediate proximity to the Journal Square PATH station, providing direct access to Manhattan in under 20 minutes and serving as a critical transit hub for the 10+ million annual PATH riders. Journal Square has emerged as one of the most dynamic neighborhoods in the New York metropolitan area, with over $2 billion in current real estate development and a multifamily pipeline exceeding 8, 000 units either newly built or under construction. The Property is ideally situated and is a short distance from major employers including Goldman Sachs, JPMorgan Chase, and over 12, 000 financial services professionals working in nearby offices. • Corner location with max visibility from all sides including skyline views of Manhattan and Jersey City • Offering an investor flexible development option including apartments, retail, commercial, theater, educational, etc. • Immediate proximity to the Journal Square PATH station, providing direct access to Manhattan in under 20 minutes • Existing mixed-use building with short-term leases provides income during the approval process • Located in the heart of Journal Square — the New York metropolitan area’s most dynamic neighborhood, with over $2 billion in current real estate development • Strong rental fundamentals with Journal Square rents increasing 13% year-over-year • Journal Square is quickly becoming an emerging cultural and educational hub • High apartment demand driven by NYC rent arbitrage and quality-of-life advantages

MLS® Number260013231

Laundry Level

Central VacNo

FireplaceNo

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Garage

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Driveway

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Map

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