A 21-unit apartment building in the Heights neighborhood of Jersey City has changed hands for the first time in over 30 years. Marcus & Millichap on Tuesday announced the $4.1 million sale of the property located at 3405 John F. Kennedy Blvd., marking the end of a long-term legacy of family ownership.
The transaction highlights the continued resilience of the Jersey City multifamily market, even as investors navigate a complex and shifting capital markets environment in early 2026.
The four-story walk-up building features a mix of 17 one-bedroom and four two-bedroom units. The property was marketed as a “value-add” opportunity, appealing to investors looking to modernize units and capture rental upside in one of North Jersey’s most active redevelopment corridors.
Key factors that drove investor interest included:
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Strategic location: Situated on JFK Boulevard, the building is near the Journal Square transit hub and the burgeoning Heights neighborhood.
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Vacant units: The delivery of several vacant units allows the new owner to begin renovations immediately.
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Neighborhood momentum: Continued institutional and private investment in the nearby Journal Square corridor has created a “halo effect” on surrounding property values.
The sale was facilitated by Jonathan Zamora, senior director of investments in Marcus & Millichap’s New Jersey office. Zamora noted that the property had previously been on the market with other brokerages without success.
“The transaction represented a complex, value-add multifamily opportunity that required careful execution amid a challenging capital markets environment,” Zamora said. “Despite these conditions, the property attracted strong interest… supported by continued redevelopment activity throughout the Heights.”
Zamora exclusively represented the seller and secured the buyer, a local private investor whose identity was not disclosed.
