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845 Bergen Ave 24,129 SF 100% Leased Retail Building Jersey City, NJ 07306 For Sale
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
Sale Condition
Redevelopment Project
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
24,129 SF
Building Class
C
Year Built
1924
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Slab To Slab
12’
Building FAR
1.39
Lot Size
0.40 AC
Opportunity Zone
Yes
Zoning
C-1
Frontage
147’ on Bergen Ave
Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
90/100
Moderately bikeable
60/100
Nearby Major Retailers
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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845 Bergen Ave
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