NEW JERSEY—Prime Realty Co. has sold a development site located at 360-364 9th Street in Jersey City, N.J. to 360 9 Street LLC in an all-cash transaction valued at $5.3 million. Massey Knakal Director of Sales Kobi Leifer exclusively represented the seller in the transaction, while the buyer was represented by Janie Spataro of Robert De Ruggiero Inc.

Located on the corner of 9th and 10th streets, 360-364 9th Street is a 1.8-acre development site totaling 78,408 sq. ft. Currently, a one-story, 80,000-sq.-ft. industrial building is on the site.

As of right, approximately 150 residential units can be built on the site, which is located in the Hamilton Park section of Jersey City, offering easy access to shops and nightlife.