$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…
$90M Mega Millions Winner Sold In NJ
A New Jersey Lottery player in Hudson County is waking up a multimillionaire after matching all five white balls and the gold Mega Ball to win the $90 million Mega Millions jackpot, officials said.
The winning ticket was sold at Garden State News on Bergenline Avenue in Union City, according to the New Jersey Lottery. The drawing happened late Tuesday night, and the cash value of the prize is $41.9 million.
The winning numbers were 17, 25, 26, 53, 60, and the gold Mega Ball was 16, officials said.
A news conference is scheduled for noon today at Garden State News, 4024 Bergenline Avenue, w…
100-Year-Old Rutherford 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 …
