UNION CITY, NJ-KDJ Realty has sold a 16-unit apartment building at 153-155 49th St. here to 153-155 49th Street LLC for $1.65 million, says Capital Realty Associates, which represented the seller and procured the buyer.
The property, which was renovated in 2000, is 100% occupied. The 12 two-bedroom units and four three-bedroom units command monthly rents between $700 and $1,100.
“Union City is the single most densely populated city in the US, creating high demand for housing,” says Benjamin Greenstein, president and managing director of Lakewood, NJ-based Capital Realty. “Additionally, Union City has experienced explosive development in recent years, and the value of multifamily rental properties is apparent.”
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