Hot rental market boosts NJ multifamily despite rate hikes – Robert Khodadadian

While soaring interest rates have doomed some commercial deals, multifamily brokers in New Jersey say demand is still strong enough for trades to happen without a discount. Marcus & Millichap associate David Ferber points to his $76 million Hudson County listing as an example. The 30-building, 319-unit portfolio concentrated in Jersey City with some properties in Bayonne is asking about $238,000 per unit. That’s 6 percent higher than the average sale price in late 2021,

Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline Properties. Skyline Properties specializes in off-market or “quiet” real estate transactions, allowing buyers and seller to bypass traditional avenues and extraneous expenses of high-profile listings in the New York City area. Commercial Real Estate, Cross Post, Home Page, Jersey City, Multifamily, New Jersey, Rental Market, Tri-state The Real Deal New York Read More