Cushman & Wakefield arranged the sale of 66 York Street, a premier, five-story medical office property located in Jersey City’s Exchange Place/Waterfront submarket. The 28,273-square-foot building was sold by 66 York, LLC to RACIV Corp for $7.43 million.
Andrew Schwartz, Jordan Sobel, Andre Balthazard and Dan Bottiglieri of Cushman & Wakefield represented the seller and procured the buyer in the transaction.
“The success of this transaction underscores the growing demand for boutique medical office assets, particularly in transformative, high-density urban environments like Jersey City,” Schwartz said. “66 York Street is 100% leased. The new owners will also be able to add value, by converting the remaining traditional office space into high-end medical office suites with the upcoming lease rollovers.”
66 York Street is in Jersey City’s Historic Paulus Hook neighborhood, a thriving commercial and residential district along the Hudson River waterfront. The location affords patients and employees visiting and working at the building with accessibly into Manhattan and other neighborhoods throughout Jersey City, Hoboken and Newark via the PATH train at Exchange Place or the ferry at the Paulus Hook NY Waterway Terminal.
