5/1/2009

Urban American Mgmt. selling Jersey City portfolio

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A Jersey City apartment portfolio that includes 10 buildings and more than 300 apartments is being offered for sale by Urban American Management.

CB Richard Ellis is representing Urban American in the offering.

The apartments are located in densely populated Jersey City, not far from the Holland Tunnel entrance to Manhattan. A redevelopment effort in the area has improved both occupancy levels and rental rates in the area, according to CB Richard Ellis. The apartments are near restaurants, grocery stores and retail businesses.

Jersey City has the fifth lowest vacancy rate in the United States.

Address: Journal Square, Jersey City, N.J.

Size: 10 buildings, 304 units

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Filed Under: Multi-Family

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