Rent-Controlled N.J. Apartment Buildings Sold for $13.8M

This post digs into a recent real estate deal in Jersey City. An unnamed investor picked up a 68-unit apartment portfolio for $13.8 million.

I’ll walk through what changed hands, why the location matters, what the brokers are saying about investor interest, and what this might mean for renters and neighborhood planning in Jersey City.

Experience Jersey City: Manhattan Views, Jersey Prices
Easy booking across hundreds of accommodations from luxury high-rises to unearthed brownstone treasures.
Browse Accommodations Now

The transaction in plain terms

The portfolio included two buildings at 546 and 565 Bergen Ave. Axial Partners sold the properties through Hudson Atlantic Realty.

The deal closed at $13.8 million. It covers 68 rent-controlled apartments and one retail space.

This package got attention because it sits close to the Journal Square PATH station. The buyer hasn’t been named, and there’s no word yet on their plans for rents or renovations.

Hudson Atlantic’s leadership described the sale as a sign that investors still want transit-accessible urban housing, even when the buildings are older and rent-controlled.

Discover Your Perfect Stay in Jersey City
Find available hotels and vacation homes instantly. No fees, best rates guaranteed!
Check Availability Now

Key facts investors and residents should note

Here’s what stands out about the deal:

Size: 68-unit multifamily portfolio, sold for $13.8M.

Location: 546 & 565 Bergen Ave., close to Journal Square PATH.

Tenancy: All units are rent-controlled. There’s also a commercial retail space.

Broker commentary: Adam Zweibel, president of Hudson Atlantic Realty, called it a sign of strong investor demand for Jersey City multifamily properties.

Deal structure: Nick Favorito, a vice president at the broker, said it’s rare to see a noncontingent deal these days. He thinks it shows real conviction from the buyer.

What this sale signals about the market

Investors are watching older, rent-controlled buildings if they’re near transit. That makes sense—being close to PATH boosts a building’s appeal since it connects people to Manhattan and the rest of the metro area.

The broker team pointed out that the noncontingent offer shows the buyer was willing to take on more risk to lock in a property in a tight market. For Jersey City, that might mean more capital flowing into multifamily housing. Still, it brings up questions about rent policy, building upkeep, and how the neighborhood could change.

Implications for tenants and the broader neighborhood

If you’re a current tenant in one of these rent-controlled units, nothing’s changing overnight—rent control rules are still in place. But new owners can shape maintenance, capital improvements, and how they use the retail space.

For neighborhood advocates and planners, it’s another reminder: transit-accessible housing keeps attracting institutional and private investors.

About the reporting

The article this post is based on was produced by NJ Advance Media’s Advance Local Express Desk, which uses AI tools in content production reviewed by staff. More market reports seem to blend automation and editorial oversight these days.

Why Jersey City residents should care

This deal isn’t just about numbers. It hints at bigger trends shaping Jersey City right now.

People want apartments close to transit. Investors keep looking at older buildings, even as the city changes.

There’s always talk about keeping housing affordable as neighborhoods shift. Whether you’re checking out Jersey City hotels, planning a visit, or just figuring out how to get around, deals like this affect what kinds of homes are available—and the vibe of each neighborhood.

Discover Jersey City: Your Dream Getaway Awaits
Find the perfect hotel or vacation rental. Instant booking, no fees!
View Top Stays

Here is the source article for this story: Rent-controlled apartment buildings in N.J. town sold in $13.8M deal