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837-845 Bergen Ave 16 Unit Apartment Building For Sale Jersey City, NJ 07306
Executive Summary
CBRE is pleased to present the exclusive opportunity to acquire 837-849 Bergen Avenue (“Property”), a 17,000± SF lot with as of right zoning to develop a 143-unit luxury high-rise apartment community featuring 6,288± SF of commercial space in vibrant Journal Square — Jersey City’s rapidly transforming central business district. Currently, the Property houses a mixed-use building totaling 16 apartments and 8 commercial spaces. As of today, only four (4) apartments and five (5) of the commercial spaces are occupied; all of which 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.
• 143-unit luxury apartment development site (16 Affordable, 127 Market)
• Corner location with max visibility from all sides including skyline views of Manhattan and Jersey City
• 17,000± SF lot size offering an investor flexible development options 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
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.
• 143-unit luxury apartment development site (16 Affordable, 127 Market)
• Corner location with max visibility from all sides including skyline views of Manhattan and Jersey City
• 17,000± SF lot size offering an investor flexible development options 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
Property Facts
| Sale Type | Investment | Lot Size | 0.40 AC |
| Sale Condition | Redevelopment Project | Building Size | 22,805 SF |
| No. Units | 16 | Average Occupancy | 36% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1924 |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Building Class | C | ||
| Zoning | C-1 | ||
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.40 AC |
| Building Size | 22,805 SF |
| Average Occupancy | 36% |
| No. Stories | 3 |
| Year Built | 1924 |
| Opportunity Zone |
Yes |
| Zoning | C-1 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 16 | - | - |
1 1
Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
90/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 06-13302-0000-00020 | Improvements Assessment | $2,598,300 |
| Land Assessment | $1,301,700 | Total Assessment | $3,900,000 |
Property Taxes
Parcel Number
06-13302-0000-00020
Land Assessment
$1,301,700
Improvements Assessment
$2,598,300
Total Assessment
$3,900,000
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837-845 Bergen Ave