Bayonne Apartment Building Sells for $4.1 Million in Northern New Jersey

A 25-unit apartment building in Bayonne, New Jersey, has recently changed hands for $4.1 million. The property, situated at 5-7 Kelly Parkway, consists exclusively of one-bedroom units. ICON Real Estate Advisors, a local brokerage firm, facilitated the sale. David Betesh of ICON Real Estate Advisors represented the seller, identified as a local family, and also secured the buyer, whose identity was not disclosed.

This transaction highlights continued activity in the multifamily market within Northern New Jersey. For developers and investors, the sale of this 25-unit building in Bayonne indicates ongoing demand for income-generating properties, particularly those offering smaller unit types. The successful negotiation by a local firm underscores the importance of regional market expertise in closing such deals.