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74 Pollock 74 Pollock Ave 60 Unit Apartment Building For Sale Jersey City, NJ 07305
Executive Summary
INVESTMENT SUMMARY: 74 Pollock, constructed in 2021, is a 6-story mid-rise in Jersey City’s quickly developing West Side neighborhood, offering 60 market-rate apartments.
UNIQUE UNIT MIX: Floor plans include a diverse mix of 20 studios, 30 one-bedrooms, and 10 two-bedroom/two-bathrooms with in-unit washer/dryers and 30 covered parking spaces.
INSTITUTIONAL-QUALITY CONSTRUCTION: Built with a poured concrete and steel frame, 74 Pollock offers superior durability, sound attenuation, and long-term capital preservation relative to comparable wood-frame product.
STRONG DEMAND PROFILE: The asset is currently achieving full market rate leasing with no concessions and no amenity fee, underscoring the strength of tenant demand and the value in the superior build quality.
AMENITY PACKAGE: Includes a rooftop terrace with views of New York and Jersey City, a fitness center, parking garage, package room and a keyless FOB entry system.
HACKENSACK RIVER WATERFRONT: Located in Jersey City’s West Side, the property benefits from a fast-evolving neighborhood driven by significant public and private investment, including the broader West Side redevelopment initiatives that continue to reshape the area into a vibrant mixed-use destination.
EXCEPTIONAL CONNECTIVITY: This property is located within walking distance (0.3 mile) to the newly renovated West Side Avenue Light Rail Station, a major catalyst for the new development in the area.
UNIQUE UNIT MIX: Floor plans include a diverse mix of 20 studios, 30 one-bedrooms, and 10 two-bedroom/two-bathrooms with in-unit washer/dryers and 30 covered parking spaces.
INSTITUTIONAL-QUALITY CONSTRUCTION: Built with a poured concrete and steel frame, 74 Pollock offers superior durability, sound attenuation, and long-term capital preservation relative to comparable wood-frame product.
STRONG DEMAND PROFILE: The asset is currently achieving full market rate leasing with no concessions and no amenity fee, underscoring the strength of tenant demand and the value in the superior build quality.
AMENITY PACKAGE: Includes a rooftop terrace with views of New York and Jersey City, a fitness center, parking garage, package room and a keyless FOB entry system.
HACKENSACK RIVER WATERFRONT: Located in Jersey City’s West Side, the property benefits from a fast-evolving neighborhood driven by significant public and private investment, including the broader West Side redevelopment initiatives that continue to reshape the area into a vibrant mixed-use destination.
EXCEPTIONAL CONNECTIVITY: This property is located within walking distance (0.3 mile) to the newly renovated West Side Avenue Light Rail Station, a major catalyst for the new development in the area.
Property Facts
| Sale Type | Investment | Building Size | 63,893 SF |
| No. Units | 60 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 6 |
| Property Subtype | Apartment | Year Built | 2021 |
| Apartment Style | Mid-Rise | Parking Ratio | 1.41/1,000 SF |
| Building Class | B | Opportunity Zone |
Yes
|
| Lot Size | 0.44 AC | ||
| Zoning | I-2 | ||
| Sale Type | Investment |
| No. Units | 60 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.44 AC |
| Building Size | 63,893 SF |
| Average Occupancy | 100% |
| No. Stories | 6 |
| Year Built | 2021 |
| Parking Ratio | 1.41/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | I-2 |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Microwave
- Washer/Dryer
- Heating
- Refrigerator
- Sprinkler System
- Stainless Steel Appliances
- Walk-In Closets
Site Amenities
- 24 Hour Access
- Fitness Center
- Security System
- Elevator
- Sundeck
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 20 | - | 500 - 638 |
| 1+1 | 30 | - | 638 - 816 |
| 2+2 | 10 | - | 1,024 - 1,100 |
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Moderately walkable
70/100
Very drivable
80/100
Good public transit
60/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 06-21701-0000-00015 | Improvements Assessment | $8,862,100 |
| Land Assessment | $3,000,000 | Total Assessment | $11,862,100 |
Property Taxes
Parcel Number
06-21701-0000-00015
Land Assessment
$3,000,000
Improvements Assessment
$8,862,100
Total Assessment
$11,862,100
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