Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of a six-unit multifamily property at 20 63rd Street in West New York of Hudson County, New Jersey.
“This transaction reflects strong investor interest in well-located, value-add assets with long-term upside,” said Kevin Taub, first vice president investments in Marcus & Millichap’s New Jersey office. “Hudson County is a core rental market with strong demographics, rent growth and easy access to Manhattan. The property represented the best of both worlds, with half of the units fully gut-renovated and the remaining units offering substantial upside. These factors allowed me to achieve record pricing for properties of comparable size and age.”
Taub exclusively marketed the property on behalf of the seller, Silicon Alley Properties, LLC and procured the buyer.
“We were initially considering another broker, but Kevin’s professionalism, persistence, and clear strategy won us over,” said the seller. “He went above and beyond throughout the
process—we won’t be taking calls from other brokers going forward.”
The three-story walk-up features one-, two- and three-bedroom units, including three that were recently renovated. The property offers garage parking, yard access and has seen significant capital improvements. Located just off Boulevard East with views of the Manhattan skyline, it sits in a commuter-friendly area near major highways and public transit into New York City.
Marcus & Millichap, Inc. (NYSE: MMI) is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. As of December 31, 2023, the Company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The Company also offers market research, consulting and advisory services to our clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion.
