January 31, 2023 – Patrick Forde of Horvath & Tremblay has successfully completed the sale of a multi-family property in Union City, New Jersey. Horvath & Tremblay exclusively represented the seller to complete the transactions at a sale price of $1,650,000.
The multi-family property is located at 400 Mountain Road in Union City, New Jersey. The property includes a four-story, multi-family building containing eleven (11) units and is comprised of one (1), Studio unit, two (2), 1-Bedroom/1-Bathroom units, and eight (8), 2-Bedroom/1-Bathroom units with 8,100 square feet of living area. The building is situated on a 0.13-acre parcel and has two dedicated parking spaces. This mixed-use Property is 100% occupied. The Property is strategically located along Mountain Road which is located in the eastern end of Union City. 400 Mountain Road is just a short walk from Park Avenue, Palisades Avenue, and Bergenline Avenue, two of the area’s primary retail corridors. The location offers convenient access to a multitude of retail, dining, and entertainment amenities in both Union City and neighboring Weehawken. 400 Mountain Road is 1-mile from Lincoln Harbor Station with service on the Hudson-Bergen Light Rail Station, 1.5-miles from the Lincoln Tunnel connecting the area with midtown Manhattan, 2.5-miles from the Path Train at Hoboken Station, and 1.5-miles from two ferry terminals (Lincoln Harbor and Hoboken 14th Street). The Property also benefits from its proximity to numerous interstates and state highways (Interstate 95, US Routes 1 and 9, and NJ Routes 495 and 3). Union City is a small bedroom suburb of New York City, located in the heart of Hudson County within the New York metropolitan area. The affluent and densely populated area is 3-miles west of New York City.
Horvath and Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Their advisors specialize in the sale of apartment buildings, mixed-use properties, and development projects. They have experience successfully structuring portfolio sales and 1031 exchanges. They have a dedicated buy side desk that provides real time inventory and market data to each individual client placing capital or fulfilling a 1031 exchange requirement. The firm is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.