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$40.8M Luxury Apartment Deal Closes In West Orange, With New Loan To Match: JLL
A luxury multifamily community in North Jersey has changed hands in a $40.8 million sale, along with $27.5 million in acquisition financing, JLL Capital Markets said Wednesday, Dec. 3.
JLL said it arranged both sides of the deal for The West, a 70-unit property at 555 Northfield Ave., in West Orange. The firm represented the seller, a joint venture between Varma Real Estate and Garas Development, and also represented the buyer, a joint venture between Invel Capital and Pearlmark Real Estate. JLL said the loan was secured through a life insurance company.
Built in 2023, The West features one…
100-Year-Old Bergen County Retail Center Sells For $7.35M
A 100-year-old retail center in Bergen County has been sold for $7.35 million, a commercial real estate firm announced.
The 22,000-square-foot center, Union Avenue Retail Center, located at 308–314 Union Ave., spans 21,897 square feet and includes seven single-story units, according to a Nov. 21 release from Marcus & Millichap. The property was built in 1925 and renovated in 2019 on a 1.9-acre parcel, according to the firm.
“Stabilized retail centers in Bergen County consistently achieve significant investor demand,” said Alan Cafiero, senior managing director investment at Marcus …
$62M Financing Secured For Bergen County Apartment Portfolio, JLL Says
A large residential portfolio spanning North Jersey has secured $62 million in financing.
The funding was arranged for Tower Management Service and will be serviced by JLL Real Estate Capital, LLC, a Freddie Mac Optigo lender, the firm said.
The portfolio includes five garden-style apartment complexes with 541 units. Those include Omni Apartments in Bergenfield, Arcadia Court Apartments in Hackensack, Park Engle Apartments in Englewood, and is anchored by Spring Gardens Apartments in Summit.
The Summit property, built in 1968, consistently maintains a 97%+ occupancy rate, a…
$27M Financing Secured For Massive Warehouse Along Route 287
A 147,620-square-foot warehouse in Central Jersey has secured $27.1 million in bridge financing.
The deal was announced Tuesday, Nov. 18, by according to JLL Capital Markets. JLL said it arranged the financing for Bridge Point Piscataway, a Class A warehouse at 10 Constitution Ave., in Piscataway.
JLL worked on behalf of the borrower, Bridge Industrial, and secured the loan through PPM America, Inc., the firm said.
The facility includes 36-foot clear ceiling heights, 41 dock-high doors, two drive-in doors, 118 car parking spaces, 57 trailer stalls, and 3,000 square feet of office spac…
$6M Mega-Estate With Its Own Golf Course Is Most Expensive Home Ever Sold In This NJ Town
A 23-acre luxury compound known as “Mattaccino” has officially become the most expensive home ever sold in one New Jersey town, closing this week for $6 million.
Located at 1980 Campbell Road in Wall Township, the 30,000-square-foot estate was represented by Sal Ventre of REAL Brokerage and sold after drawing national attention for its massive footprint and resort-style amenities.
"We coined it as a 'residential resort,' because that's truly what it is," Ventre said. "From a nightclub to arcades, four to five different bars, a massage spa, saunas, a theater, racquetball court, four-hole gol…
Step Inside 17th-Century Dutch Townhouse That Crossed The Atlantic To NYC — Price: $8M
It was built in 17th-century Europe, disassembled and shipped across the Atlantic, then rebuilt, torn down, and rebuilt again across town. Welcome to the most well-traveled townhouse in Manhattan.
Now settled in Gramercy Park — and priced at just under $8 million— the Joseph B. Thomas House at 135 East 19th Street boasts nearly 7,000 square feet, complete with Gothic flourishes, stained glass, and sunlit interiors.
The six-bedroom, six-bath home has been viewed more than 21,000 times on Zillow and lingered on the market for over 100 days.
Far from your typical Manhattan pad, the home’s sto…
