Onyx Equities LLC on Friday announced the acquisition of a 292,000-square-foot office building located in the waterfront district of downtown Jersey City, N.J.
The value of the transaction was not disclosed.
A joint venture of Denholtz Associates and Jerold Zaro sold the 15-story property located at 30 Montgomery St. Located one block from the Exchange Place PATH Station and across the street from a Bergen/Hudson Light Rail stop, the property offers 24-hour security, onsite management and retail amenities including available retail space on the corner of Greene and Montgomery streets.
“The acquisition of 30 Montgomery Street is an example of Onyx Equities’ ability to read the overall business and real estate marketplaces and make sound investments,” said Jonathan Davis, Onyx Equities’ vice president of investments, who represented Onyx in the acquisition. “The building’s location near mass transit and its positioning in the heart of Jersey City’s downtown is ideal, especially during a time when Manhattan’s commercial space has become extremely limited.”
At the time of sale, 30 Montgomery St.’s roster of tenants included offices for The City of Jersey City, FundTech Corp., Federal Home Loan Bank of New York, and Schumann Hanlon LLC.
The newly acquired building is adjacent to another property owned by Onyx, 2 Montgomery St.
Woodbridge, N.J.-based Onyx Equities LLC was formed in 2004 and currently owns a portfolio of 2.1 million square feet of office, retail and industrial properties located in New Jersey, New York, Connecticut and Pennsylvania.