137 Monticello Ave

Description

GRID Real Estate, LLC, ("GRID), has been exclusively engaged by Stolar Capitral 3., (the "Owner), to sell 137 Monticello Avenue, Jersey City, NJ 07304 the "Property. The building is approximately ~7,579 square feet on two (2) floors over one (1) retail space. The property sits detached on a ~2,500 square foot lot. The retail space has exclusive access to a ~2,230 square foot basement. The second and third floors have a total GLA of ~3,155 square feet. The asset sits in the heart of Jersey Citys McGinely Square on Monticello Avenue. The Lichtenthals Building has been historically repositioned back to its original charm, boasting a 2,000SF retail which has a 10 year lease ready to execute to regional day care as well as a four brand new residential two bedroom apartments upstairs. The only thing original on this building is the exterior and facade. All structural components were replaced, while adding new sprinkler system, fire and security, windows, floors et al. Since completion in 2016 the building has had 100% occupancy and most recently a local child day care has a a 10 year lease ready to execute with new ownership.