Broadway residential complex a perfect fit for 1031 exchange.The Kislak Company, Inc. recently completed the $23.9 million sale of 4800 Broadway and 4801 Broadway, a mixed-use complex, located in Union City, New Jersey. Senior vice president and co-managing director Robert Holland represented the buyers, Paramount Acquisitions LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control and JD Union LLC, while vice president Matt Weilheimer represented the sellers, 4800 Broadway LLC, 4801 Broadway LLC and Goal Investments, in this transaction. "We are extremely pleased to have completed the sale of 4800-4801 Broadway," stated Weilheimer. "This transaction successfully met the needs of both the buyer and seller. These properties were initially acquired several years ago and underwent an extensive renovation and subsequent rapid re-leasing by the former owners, thus adding significant value to the assets. "The buyers were in the middle of a 1031 exchange and 4800-4801 Broadway fit perfectly into Paramount Acquisitions' and JD Union's financial requirements." "The New Jersey real estate market continues to attract unprecedented demand from investors," stated Holland. "New Jersey's outstanding demographics The attributes of people in a particular geographic area. Used for marketing purposes, population, ethnic origins, religion, spoken language, income and age range are examples of demographic data. , limited land supply and strong economic fundamentals make it one of the most desirable investment targets in the country. Situated in New Jersey's most densely populated pop·u·late tr.v. pop·u·lat·ed, pop·u·lat·ing, pop·u·lates 1. To supply with inhabitants, as by colonization; people. 2. county, Hudson County, these properties offer the new owners tremendous long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. growth potential." Totaling 85,000 s/f, 4800-4801 Broadway are both fully-occupied retail and office buildings. 4800 Broadway is a 42,500 s/f mixed-use building and includes tenants such as Dunkin Donuts donuts - (Obsolete) A collective noun for any set of memory bits. This usage is extremely archaic and may no longer be live jargon; it dates from the days of ferrite core memories in which each bit was implemented by a doughnut-shaped magnetic flip-flop. , Pizza Hut, Cablevision, Hudson County Municipal offices and the State of New Jersey offices. 4801 Broadway also totals 42,500 s/f and includes a supermarket, 99 cent store, radiology radiology, branch of medicine specializing in the use of X rays, gamma rays, radioactive isotopes, and other forms of radiation in the diagnosis and treatment of disease. office and daycare center. Both buildings offer on-site parking, a rarity in Hudson County, and are located in the desirable Hudson Waterfront submarket sub·mar·ket n. A geographic, economic, or specialized subdivision of a market. adj. Being below what is usual in a particular market: submarket wages; submarket interest rates. . |
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