REBusinessOnline

Margules Properties Buys Jersey City’s Sip Triangle Building for $2.5M

48-50-Sip-Ave-Jersey-City-NJ

The 6,000-square-foot building at 48-58 Sip Ave. in Jersey City, N.J., sold for $2.5 million.

JERSEY CITY, N.J. — Margules Properties has acquired the Sip Triangle Building in Jersey City for $2.5 million from an undisclosed seller. Located at 48-58 Sip Ave. and two blocks from the PATH Station in Journal Square, the 6,000-square-foot building features four retail stores and significant air rights. The property is adjacent to a 64-unit residential building with eight retail stores at 60 Sip Ave. that Margules Properties purchased in 2012. Benjamin Greenstein of Capital Realty Associates represented the buyer in the transaction.

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