**Jersey City Apartments Sell for $4.1M After More Than 30 Years of Ownership**
Marcus & Millichap has completed the sale of a 21-unit walk-up apartment building located at 3405 John F. Kennedy Boulevard in Jersey City. The property, which had been under legacy family ownership for more than three decades, sold for $4.1 million.
“The transaction represented a complex, value-add multifamily opportunity that required careful execution amid a challenging capital markets environment,” said Jonathan Zamora, Senior Director of Investments at Marcus & Millichap’s New Jersey office. “Despite these conditions, the property attracted strong interest due to its ability to deliver vacant units, identifiable rental upside, and long-term repositioning potential. Investor demand was further supported by continued redevelopment activity throughout the Heights neighborhood and the broader Journal Square corridor.”
Zamora exclusively marketed the asset on behalf of the seller and also procured the buyer, a local private investor. “After the property was previously marketed by other brokerages without a sale, we were able to generate strong investor interest and successfully close the transaction,” he added.
