New 32 MAGNOLIA AVE · 2020. 3. 12. · Real Estate, LLC (“GRID” or “Advisor”) and is solely for the use of prospective buyers, (each a “Buyer”) of the real property commonly

1

New to market 13U multi-family CORE asset located in the

heart of The Hilltop section of Journal Square—two blocks

PATH Station. This pre-war four story brick building has been

completely rebuilt from the inside out featuring brand new

mechanicals, sprinkler and security systems, Italian kitch-

ens and quartz countertops/backsplash, gym, rooftop with

360º unobstructed views of NYC and most importantly, a

completely turn key, low maintenance, cash flowing piece

of Jersey City History.

32 MAGNOLIA AVE

MULTI-FAMILY BUILDING FOR SALE

http://gridrealestate.biz/


https://www.youtube.com/watch?v=ihCHrHhCXHk?version=3&vq=hd720


2

LIMITING CONDITIONS

This Offering Memorandum prepared in February 28, 2020 by GRID

Real Estate, LLC (“GRID” or “Advisor”) and is solely for the use of

prospective buyers, (each a “Buyer”) of the real property commonly

known as 32 Magnolia Avenue, in Jersey City, NJ, (the “Property” or

“32M”). Neither GRID nor the owner of the Property (“Owner”) makes

any representation or warranty, express or implied, as to the completeness or

the accuracy of the material contained in the Offering Memorandum.

Prospective Buyers of the Property are advised that changes may

have

occurred in the physical or financial condition of the Property since

the time this Offering Memorandum or any financial statement therein

was prepared. Prospective Buyers of the Property are advised and

encouraged to conduct their own comprehensive review and analysis

of the Property.

The Offering Memorandum is a solicitation of interest only and is not

an offer to purchase the Property. Owner expressly reserves the right,

at its sole and absolute discretion, to reject any or all expressions of

interest or offers to purchase the Property and expressly reserves the

right, at its sole and absolute discretion, to terminate discussions with

any potential Buyers at any time with or without notice. Owner shall

have no legal commitment or obligation to any party reviewing the

Offering Memorandum or making an offer to buy the Property unless

and until a written real estate purchase and sale agreement is execut-

ed by Owner and Buyer. This Offering Memorandum is confidential. As

a condition to receiving this Offering Memorandum, Buyer has execut-

ed the “32 Magnolia ” Confidentiality Agreement.



3

Grid Real Estate

201 Marin Blvd #106

Jersey City NJ 07302

Gregory D. Edgell

Licensed Sales Associate

(973) 610 5145

[email protected]

Bobby Antonicello, Jr

Licensed Sales Broker

(551) 795 2836

[email protected]

THIS CONFIDENTIAL INVESTMENT OFFERING (the “Investment Offering”) is being furnished to the recipient (the “Recipient”) solely for the Recipient’s own limited use in considering whether to provide all or a portion of an investment (the “Investment”).

GRID Real Estate, LLC (“GRID”), has prepared this confidential Investment Offering, which contains brief, selected information pertaining to the business and affairs of the Property. This confidential information does not purport to be all-inclusive nor does it purport to contain all the information, which a prospective lender may desire. Neither the Owner, nor GRID nor any of their respective partners, officers, employees, or agents makes any representation or warranty, expressed or implied, as to the accuracy or completeness of this Investment Offering or any of its contents and no legal liability is assumed or shall be implied with respect thereto.

The Recipient agrees that (a) the Investment Offering and its contents are Confidential Information, except for such information contained in the Investment Offering, which is a matter of public record, (b) the Recipient, the Recipient’s employees, agents and consultants (collectively, the “need to know parties”) will hold and treat it in the strictest of confidence, and the Recipient and the need to know parties will not, directly or indirectly, disclose or permit anyone else to disclose its contents to any other person, firm, or entity without the prior written authorization of GRID and our client, and (c) the Recipient and the need to know parties will not use or permit to be used this Investment Offering or its contents in any fashion or manner detrimental to the interest of the Owner or GRID or for any purpose other than use in considering whether to provide all or a portion of the investment. The Recipient and the need to know parties agree to keep this Investment Offering and all Confidential Information contained herein permanently confidential and further agree to use this Investment Offering Submission for the purpose set forth above.

PHOTOCOPYING OR OTHER DUPLICATION IS STRICTLY PROHIBITED.

OUR CLIENT EXPRESSLY RESERVES THE RIGHT, AT ITS SOLE DISCRETION, TO REJECT ANY OR ALL PROPOSALS OR EXPRESSIONS OF INTEREST IN THE PROPOSED INVESTMENT AND TO TERMINATE DISCUSSIONS WITH ANY PARTY, AT ANY TIME, WITH OR WITHOUT NOTICE.

THE CONFIDENTIAL INVESTMENT OFFERING SHALL NOT BE DEEMED TO BE A REPRESENTATION OF THE STATE OF AFFAIRS OF THE PROPERTY OR CONSTITUTE AN INDICATION THAT THERE HAS BEEN NO CHANGE IN THE BUSINESS OR AFFAIRS OF THE PROPERTY SINCE THE DATE OF PREPARATION OF THIS INVESTMENT OFFERING.

If either party does not wish to pursue negotiations leading to the placement of the investment, or if in the future, the Investor discontinues such negotiations, you agree to return this Confidential

Investment Offering to GRID.

CONFIDENTIAL INVESTMENT OFFERING



4

BASICS

LocationView on GoogleView Leasing Website

Block/Lot 9705/45

Lot Size2,500SF

Description 4S-B-13U

ZoningR-1

MarketHilltopJournal Square

Taxes (2019)$29,795.65

Unit Mix 4 - Studios6 - 1 Bedrooms3 - 2 Bedrooms

UEZ/OZ No/No

Insert More Info No/No

Insert More Info No/No

Median HH Income$65,931

Popuplation (1mi)88,765



https://www.google.com/maps/place/32+Magnolia+Ave,+Jersey+City,+NJ+07306/data=!4m2!3m1!1s0x89c25735b2f34f7d:0x24d1baf3c5558270?sa=X&ved=2ahUKEwjc3YyXxeHnAhXmhOAKHdYkD0wQ8gEwAHoECAsQAQ

https://32magnolia.com/

5

INTERIORS



6

QUARTZ COUNTERTOP & BACKSPLASH

ITALIAN KITCHEN CABINETRY

PANELED DISH WASHER

IN UNIT WASHER & DRYER

8’ SOLID WOOD DOORS

EMTEK DOOR HANDLES

3” HARD WOOD FLOORS

MULTI-ZONE DUCTLESS HVAC

DUAL LED SPOTLIGHTS



7



8

ELECTRIC ROOM GAS ROOM

SPRINKLER ROOM



9

ROOFTOP WITH 360º VIEWS

EXTERIOR LIGHTING

REPOINTED MASONRY

NAVIEN COMBI BOILERS

WET SPRINKLER SYSTEM

TRASH ROOM

GAS METER ROOM

ELECTRIC METER & SECURITY ROOM

OUTDOOR PYLON MAILBOX



10

BOILER ROOM

REFUSE ROOM SECURITY ROOM



11

EXTERIOR



12

The asset sits amongst low density brownstones on a tree

lined block tucked away from the activity of Journal Square

and Newark Avenue respectively. Positioned in the Hilltop

section of the city, minutes from both the PATH station and

Downtown’s bustling restaurant and entertainment district

tenants get the best of both worlds. From the private rooftop

you can see full 360º unobstructed views of the entire gold

coast region.

THE HILLTOP, JOURNAL SQUARE

NEIGHBORHOOD




13

NEIGHBORHOOD



14



153

Bergen Hill

Canal Crossing

Bayfront

University Place

Bayfront

Canal Crossing

Riverview Arts District

Journal SquareArts District

“This Old House”

Broadway

Grant Avenue

Union Street

Custer Avenue

Kellogg Street

Carbon Place

Pamrapo AvenueYale Avenue

Dal

es A

venu

e

Forrest Street

Tonn

ele

Ave

nue

Wal

lis A

venu

e

Irving Street

Willaims Avenue

Highland Avenue

Wrig

ht A

venu

e

Bidwell Avenue

Grace Street

Com

mer

cial

Stre

et

Glenwood Avenue

Poplar Street

Hague Street

Jewett Avenue

Orient Avenue

South Street

Harrison Avenue

Hutton Street

Wal

es A

venu

e

Dwight Street

Bishop Street

Pollock Avenue

Pulaski Skyway

Fairview Avenue

Colle

ge D

rive

Stegman Street

State Hwy 139

Hallad

ay S

treet

Route 440

Pacif

ic Av

enue

Gardner Avenue

Lexington Avenue

Broadman Parkway

Ferry Street

Roosevelt Avenue

Long

Stre

et

Wegman Parkway

Hallad

ay S

treet

Gates Avenue

Ege Avenue

Belmont Avenue

Linden Avenue

Terhune Avenue

Kenne

dy B

oulev

ard

Van Reipen Avenue

Montgomery Street

Wes

t Sid

e Av

enue

Wes

t Side

Ave

nue

Culver Avenue

State Street

Warner Avenue

Fairmont Avenue

Mina Drive

Frem

ont S

treet

Brown Place

Columbus Drive

Cliff Street

Delmar Road

Sip Avenue

Emory Street

Lew

is A

venu

e

Jefferson Avenue

Fisk Street

Communipaw Avenue

Cen

ter S

t reet

Montgomery Street

Cle

rk S

treet

Steuben Street

Rom

aine

Ave

nue

Bostwick Avenue

Lake Street

Seaview Avenue

Storms Avenue

Park

Stre

et

Henry Street

Tyson Lane

Am

ity S

treet

Alan Terrace

Crossgate Road

First Street

Grand Street

Jone

s St

reet

Stagg Street

Neptune AvenueBrinkerhoff Street

Harmon Street

Man

ning

Aven

ue

Bay Street

Greenville Avenue

Pine

Stre

et

New Street

Clinton Avenue

Palis

ade

Aven

ue

Bays

ide T

r

Fleet Street

Jam

es A

venu

e

Laidlaw Avenue

Mal

lory

Ave

nue

Danforth Avenue

Mar

tin L

uthe

r Kin

g Dr

ive

Mar

tin L

uthe

r Kin

g Dr

ive

King

Driv

e

Mar

tin L

uthe

r

Jord

an A

venu

e

Kenn

edy

Boul

evar

d

Aven

ue C

Sixth Street

Armstrong Avenue

Cho

pin

Cou

rt

Fox Place

Paterson Street

Spruce Street

Hutton Avenue

Dey Street

Col

l ard

St re

e t

Sie

dler

Stre

et

Floyd Street

Suyda

m Ave

nue

Elm Street

Rt. 1

&9

Cov

ert S

treet

Trenton Street

Tenth Street

Essex Street

Morris Street

Hur

on A

venu

e

Exeter Road

Towe

rs S

treet

Magnolia Avenue

Free

man

Ave

Brook Street

Vine St

Flor

ence

St re

et

Mille

r St

Mer

sele

s S

tree t

Han

cock

Ave

nue

Hackensack Avenue

Gautier Avenue

Fayette Place

Briarwood Road

Johnston Avenue

Dudley Street

Morgan Street

Marion Place

Mon

itor S

treet

Chapel Avenue

Second Street

Ski

llman

Ave

nue

Kenn

edy

Boul

evar

d

Kenn

edy

Boul

evar

d

Kenn

edy

Boul

evar

d

New

Jer

sey

Turn

pike

New Jerse

y Turnpike

Steg

man

Ct

Colden Street

Steg

man

Pl

Northcroft Road

Sherman Place

Sussex Street

Twelfth Street

Sheffield Street

Howard Place

Whi

tman

Ave

Mad

ison

Ave

nue

Cam

brid

ge A

venu

e

Col

umbi

a Av

enue

Was

hing

ton

Blv

d

Fifteenth Street

Tuer

s Av

enue

Congress Street

Freedom Pl

Wayne Street

Thirteenth Street

Booream Avenue

Whit

on S

treet

Eastern Parkway

Graham Street

Ever

ett S

tSt

egm

an T

r

Skyline Dr

Nun

da A

ve

Jour

nal S

quar

e

Parne

ll Pl

Mon

ticel

lo A

venu

Ole

an A

ve

Howell Street

Terra

ce A

venu

e

Ferncliff Road

Mor

ton

St

Academy Street

Eighteenth Street

Waverly Street

Virginia Avenue

Brit

ton

St

Fourteenth Street

Lien

au P

l

Ravine Avenue

High Street

Prospect Avenue

Nel

son

Aven

ue

Ash Street

Gar

rison

Ave

nue

St. Pauls Avenue

Bol

and

St

St Pauls Avenue

Westervelt Pl

Pavonia

Lincoln Highway

Berry

Lan

e

Seventeenth Street

Ale

x D

. Sul

livan

Driv

e

Mill

Roa

d

Haw

thor

ne A

ve

Wald

o Av

enue

Mea

d A

ve

Vreeland Tr

Sand S

treet

Waller Street

Wes

tern

Ave

nue

Nes

bitt

St

Berkeley Pl

Belv

ider

e Av

e

Wegman Ct

Mercer Street

Troy St

Was

hing

ton

Blv

d

Wes

t St

Manhattan Avenue

Van

Wag

enen

Ave

nue

Gro

ve S

treet

Eno

s P

l

Cen

tral A

venu

e

Scott S

t

Carbon Street

Christopher Columbus Drive

East

St

Iorio

Ct

Carteret Avenue

Nevin St

Bat

es S

treet

Mercer Street Loop

Oakdale Road

New York Avenue

Myrtle Avenue

ExchangePlace

North Street

Hol

mes

Ave

Del

awar

e Av

e

W V

iew

Ct

Sandford Place

Maple Street

Van Winkle Ave

McDougall St

Bry

an P

l

Bar

row

Stre

et

Fairm

ont T

r

Hud

son

Stre

et

War

ren

Stre

et

Oxford Ave

Mar

cy S

treet

Romar A

venu

e

Milt

on A

venu

eWashburn Street

Bramhall Avenue

Pro

vost

Stre

et

Larc

h A

venu

e

Sack

ett S

treet

Bry

ant A

ve

Stirl

ing

Aven

ue

Ivy Pl

Apol

lo S

t

Van

Clee

f Stre

et

Garab

rant

St

Hobson St

Jers

ey A

venu

e

Div

isio

n S

treet

Rou

te 1

&9

Plai

nfie

ld A

ve

Franklin Street

Benn

ett S

treet

Man

ila A

venu

e

Richard St

Fiel

d Av

e

Old

Ber

gen

Roa

d

Fulton Avenue

Libe

rty A

venu

e

Con

cord

Stre

et

Morton Place

Thorne Street

Emer

son

Ave

Casp

er C

t

Fowler

Ave

nue

Gre

ene

Stre

et

Pier

ce A

venu

e

Cha

rlotte

Stre

et

Bleecker Street

Pate

reso

n Pl

ank

Roa

d

Van

Vor

st S

treet

Claremont Avenue

Duncan Avenue

Wilkinson Avenue

Bald

win

Ave

nue

Hom

este

ad

Bru

nsw

ick

Stre

et

Zabriskie Street

Mon

trose

Ave

nue

Oak

land

Ave

nue

Vroom Street

Gra

y St

reet

ST. Pauls Avenue

Pas

saic

Ave

nue

Mon

mou

th S

treet

Leonard Street

McW

illia

ms

Pl.

Jone

s P

l

Orchard Street

Duf

field

Ave

nue

Ches

nut A

venu

e

Col

gate

St

Bay View Avenue

Cre

scen

t Ave

nue

Prin

ceto

n Av

enue

Stuyvesant Avenue

Berg

en A

venu

e

Kenn

edy

Boul

evar

d

Web

ster

Ave

nue

Corn

elis

on A

venu

e

Caven Point Avenue

Suburbia Court

Was

hing

ton

Stre

et

Ham

ilton

Pl.

Subu

rbia

Ter

race

Cou

ntry

Villa

ge R

oad

Third Street

Gar

field

Ave

nue

Rose

Aven

ue

Clendenny Avenue

Woo

dlan

d Av

e

Cle

rk S

treet

Fairmount Avenue

Luis

Mun

oz M

arin

Bou

leva

rd

Sum

mit

Aven

ue

Rutg

ers

Aven

ue

Gile

s A

venu

e

Mou

ntai

n R

oad

Berg

en A

venu

e

Cle

rk S

treet

Van Winkle Avenue

Kenn

edy

Boul

evar

d

Griffith Street

Beacon Avenue

Newark Avenue

Oce

an A

venu

e

Newkirk Street

Lexington Avenue

Garfie

ld Av

enue

Neptune Avenue

Wes

t Sid

e A

venu

e

Gar

field

Ave

nue

St. Pauls Avenue

Harrison Avenue

Graham Street

Winfield Avenue

Newark Avenue

Carteret Avenue

Arlin

gton

Ogd

en A

venu

e

Forrest Street

Sum

mit

Ave

nue

Stevens Avenue

Woodlawn Avenue

Oce

an A

venu

e

Ninth Street

Lafayette Street

Wes

t Sid

e Av

enue

Rose

Ave

nue

Myrtle Avenue

Bidwell Avenue

Sum

mit

Aven

ue

Pine

Stre

et

Duncan Avenue

Bartholdi Avenue

Sum

mit

Aven

ue

Carlton Avenue

Bald

win

Ave

nue

South Street

Jers

ey A

venu

e

Whit

on S

treet

Pavonia Ave

Sum

mit

Aven

ue

Fairmount Avenue

Newark Avenue

First Street

Atlantic Street

Grant Avenue

Second Street

Pavonia Avenue

Magnolia Avenue

Sum

mit

Ave

nue

Libe

rty A

venu

e

Ole

an A

ve

Elizabeth Street

Reed Street

Berg

en A

venu

e

Berg

en A

venu

e

Tonn

ele

Aven

ue

York Street

New

Yor

k A

venu

e

Jam

es A

venu

e

Jefferson Avenue

Boyd Avenue

Erie

Stre

et

New

Yor

k A

venu

e

Ran

dolp

h A

venu

e

Duncan Avenue

Hopkins Avenue

Sip Avenue

Woo

dwar

d St

reet

Chapel Avenue

Ken

nedy

Bou

leva

rd

Lincoln Street

Sixteenth Street

Seventh Street

Sip Avenue

Col

es S

treet

Palis

ade

Aven

ue

Hutton Street

Col

umbi

a A

venu

e

Van-

Horne

Stre

et

Grand Street

Claremont Avenue

Prospect Avenue

Leonard Street

Cen

tral A

venu

e

Thorne Street

Ocean

Ave

nue

Virginia Avenue

Hutton Street

Kensington Avenue

Avenue

Logan Avenue

Bru

nsw

ick

Stre

et

Gro

ve S

treet

Mal

lory

Ave

nue

First Street

Beacon Avenue

Pearsall Avenue

Clarke Avenue

Ogd

en A

venu

e

Astor Place

Pearsall Avenue

Lembeck Avenue

Cen

tral A

venu

e

Palis

ade

Aven

ue

Seaview Avenue

Manhattan Avenue

Bright Street

Laidlaw Avenue

Kenn

edy

Boul

evar

d

Fairview Avenue

Whit

on S

treet

Irving Street

Duncan Avenue

Neptune Avenue

Gar

field

Ave

nue

Eighteenth Street

Bartholdi Avenue

Web

ster

Ave

nue

Fourth Street

Condict Street

Maple Street

Laidlaw Avenue

Broadway

Col

es S

treet

Nun

da A

ve

Libe

rty A

venu

e

Third Street

Man

ila A

venu

e

Kennedy Boulevard

Lincoln Street

Gar

field

Ave

nue

Fulton Avenue

Mon

itor S

treet

Ege Avenue

Mercer Street

Communipaw Avenue

Union Street

Bleecker Street

Broadway

Culver Avenue

North Street

Wes

t Sid

e Av

enue

Bowers Street

North Street

Zabriskie Street

Rose

Ave

nue

Boyd Avenue

Palis

ade

Aven

ue

Varic

k S

treet

Montgomery Street

Woodlawn Avenue

Pacif

ic Av

enue

Hoboken Avenue

Bay Street

Winfield Avenue

Dwight Street

Newark Avenue

Linden Avenue

Arlin

gton

Ave

nue

Cor

bin

Aven

ue

Tonn

ele

Aven

ue

Leonard Street

Armstrong Avenue

Linden Avenue

Cam

brid

ge A

venu

e

Poplar Street

Fifth Street

Beach Street

Union Street

Sher

man

Ave

nue

First Street

Gates Avenue

Terra

ce A

venu

e

Virginia Avenue

Pacif

ic Av

enue

Cator Avenue

Old

Ber

gen

Roa

d

Orient Avenue

Rou

te 4

40

Fulton Avenue

Gifford Avenue

Van Nostrand Avenue

Belv

ider

e Av

e

Grand Street

York Street

New County Road

Libe

rty A

venu

e

Van Nostrand Avenue

Erie

Stre

et

Mon

mou

th S

treet

Claremont Avenue

Clif

ton

P

lace

Amity

Stre

et

Eighth Street

Newark Avenue

York Street

Charles Street

Kearney Avenue

Howell Street

Stevens Avenue

North Street

Sherman Place

Pacif

ic Av

enue

Hoboken Avenue

Oce

an A

venu

e

Congress Street

Clendenny Avenue

Stegman Street

Wade Avenue

Tuer

s Av

enue

Newark Avenue

Web

ster

Ave

nue

Danforth Avenue

Clinton Avenue

Ege Avenue

McAdoo Avenue

Pearsall Avenue

Claremont Avenue

Jewett Avenue

Beacon Avenue

Han

cock

Ave

nue

Jers

ey A

venu

e

De Kalb Avenue

Bentley Avenue

Danforth Avenue

Kearney Avenue

Graham Street

Audubon Avenue

Wilkinson Avenue

Wayne Street

Woo

dwar

d St

reet

Stegman Street

Griffith Street

Sher

man

Ave

nue

Terra

ce A

venu

e

Cator Avenue

Cottage Street

Zabriskie Street

Lembeck Avenue

Academy Street

Cor

nelis

on A

venu

e

Gar

field

Ave

nue

Han

cock

Ave

nue

Del

awar

e Av

e

Lembeck Avenue

Mal

lory

Ave

Waverly Street

Grand Street

Wegman Parkway

Grace Street

Oak Street

Sherman Place

Hague Street

PrescocttStreet

CITY HALL

CITY OF HOBOKEN

UNION CITY

TY OF NORTH BERGEN

CITY OF KEARNY

HOLY NAME CEMETERY

LINCOLN PARK

L I B E R T Y S T A T E P A R K

PERSHING FIELD

TOWN O

F SECAUCUS

T i d e w a t e r B a s i n

Hu

ds

on

R

iv

er

Penho

rn Creek

New

Yor

k

New

Jer

sey

Ha

ck

en

sa

ck

R

i ve

r

Oppo

rtunit

y

Bayfront

Lincoln Park

St. Peter’s University

St. Aedan’s

Hilltop

Mill Creek

West End Reservoir

Palisade

Village

(North of Holland Tunnel)

Harsimus Cove

Hamilton Park

NoHo

Hoboken Yards

Newport

Harborside

Exchange Place

Paulus HookColgateCenter

Liberty HarborHarbor Place

Lafayette

Berry LanePark

Bergen Hill

Lafayette Industrial

The Hub

Canal Crossing

Liberty State Park

Ellis Island

Liberty IslandPort Liberte

The Hill

Our Lady of Mercy

St. Pauls

Country Village

PowerhouseArts District

Gregory Park

Metroplaza

Waverly

Meadowlands

Sparrow Hill

Hudson City

Mount PleasantWestern Slope

WashingtonVillage

Marion

Mana ArtDistrict

Hackensack

State University

West Side

Society Hill

West SideHistoricDistrict

THE HEIGHTS

JOURNALSQUARE

(Central Business District)

DOWNTOWN

WEST SIDE

NJCU

JACKSON-HILL

GREENVILLE

McGinley Square

LSP Industrial

Sixth Street Embankment

“18-hour City”

NoJo

SoJo

BROKERS ADVISORS BROKERS ADVISORS BROKERS ADVISORS BROKERS ADVISORS BROKERS ADVISORS BROKERS ADVISORS BROKERS ADVISORS BROKERS ADVISORS BROKERS ADVISORS BROKERS ADVISORS










Developing Markets

Journal Squared HaloUniversity Place (Rivet) Halo

Trending Hot

Emerging Markets

Cornerstone Historic Districts,Neighborhood Arts Districts

Mature Development Corridor

DEVELOPMENT TRENDS JAN. 2019

CITY OFJERSEY CITY

BROKERS ADVISORS

TRENDS MAP



http://www.whiteeaglehalljc.com/

16

INCOME STATEMENT PRICE $4,950,000.00

Unit 101 (1 Bed/1 Bath)Unit 102 (0 Bed/1 Bath)Unit 103 (1 Bed/1 Bath)Unit 201 (2 Bed/1 Bath)Unit 202 (0 Bed/1 Bath) Unit 203 (1 Bed/1 Bath)Unit 301 (2 Bed/1 Bath)Unit 302 (0 Bed/1 Bath)Unit 303 (1 Bed/1 Bath)Unit 401 (2 Bed/1 Bath)Unit 402 (0 Bed/1 Bath)Unit 403 (1 Bed/1 Bath)Unit B (1 Bed/1 Bath)

Effective Gross Income (Monthly)Effective Gross Income (Annual)

Property Taxes (2019)Water and SewerInsuranceManagement Verizon FiosCommon Area ElectricSprinkler SystemMaintenance

Total Expenses

Net Operating Income (NOI)

$2,150.00$1,850.00$2,150.00

$2,400.00$1,850.00$2,150.00

$2,400.00$1,850.00$2,150.00

$2,400.00$1,850.00$2,150.00$1,900.00

$27,250.00$327,000.00

($28,789.82)($7,800.00)($6,500.00)

($13,080.00)($600.00)

($1,950.00)($2,000.00)($1,950.00)

($62,669.20)

$264,330.80



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DEMOGRAPHICS

AREA OVERVIEW HOUSING MARKET OVERVIEW 37

Strong Demographics

STRONG POPULATION GROWTH

HIGHLY EDUCATED WORKFORCE

3-MILE JERSEY CITY HUDSON COUNTY NEW JERSEY USA

Population

Population

2000 Census 327,386 240,054 608,977 8,414,361 281,421,942

2010 Census 350,474 247,597 634,266 8,791,894 308,745,538

2017 Estimate 383,906 270,383 684,336 8,999,188 325,139,271

2022 Projection 402,476 283,180 712,761 9,163,036 337,393,057

Population

Percent Change: 2000 to 2010 7.05% 3.14% 4.15% 4.49% 9.71%



Ages 21-34 28% 26% 25% 18% 19%

Average Age 36 36 37 40 39

Housing & Households

Number of Households

2000 Census 126,963 88,633 230,547 3,064,642 105,480,131

2010 Census 142,402 96,859 246,437 3,214,360 116,716,292

2017 Estimate 157,687 107,430 269,270 3,294,365 123,356,629

2022 Projection 166,083 113,248 281,966 3,357,706 128,246,828

Housing Units, Owner-Occupied 28% 29% 32% 65% 65%

Housing Units, Renter-Occupied 72% 71% 68% 35% 35%

Housing Units by Year Structure Built

Built 2010 or Later 11% 10% 9% 4% 7%

Built 2000 to 2009 16% 15% 12% 10% 15%

Built 1940-1999 40% 41% 46% 69% 66%

Built 1939 or Earlier 34% 34% 33% 17% 12%

Median Year Housing Structure 1962 1959 1960 1968 1978

Affluence & Education

2017 Est. Average Household Income $110,843 $93,741 $91,877 $107,672 $80,853

2017 Est. Median Housing Value $400,633 $351,419 $363,732 $337,120 $197,780

Households With Income Over $100K 37% 32% 31% 38% 26%

Bachelors Degree or Higher 48% 43% 37% 37% 30%

Demographic Overview

HIGH DEMAND FOR RENTALPRODUCT

HIGH HOUSEHOLD INCOME ANDHOUSING VALUES

Source: Spotlight



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R E T H I N K

Special thanks to the following artist who allowed their work to be displayed here.

Jersey City is gifted to have so many taleted artist work and live in the city.

4Sakn, Tarsila Schubert, Ntel, Clarence Rich



Documents

New 32 MAGNOLIA AVE · 2020. 3. 12. · Real Estate, LLC (“GRID” or “Advisor”) and is solely for the use of prospective buyers, (each a “Buyer”) of the real property commonly