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Quick Mixed-Use Trades in Union City, Elizabeth

UNION CITY, NJ-There was intense interest in an apartment building with office space here, which sold quickly. An Elizabeth mixed-use retail/office building traded in two weeks, according to Gebroe-Hammer.

By Antoinette Martin | Updated on July 25, 2013

UNION CITY, NJ-Gebroe-Hammer Associates has sold two northern New Jersey mixed-use properties with a combined value of $6.7 million. One trade involved an apartment/office property here; the other was a retail/office property in Elizabeth.

The Union City property at 812 New York Ave, possessing 34 rental units and one office space sold for $6 million. That factors out to about $180,000 per-apartment unit, according to G-H’s Nicholas Nicolaou, who represented both sides in the trade.

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