SECAUCUS, N.J. — Woodmont Properties and Canoe Brook Development have sold The Waverton in Secaucus, with Canoe Brook retaining its minority ownership. The asset, completed in 2022, traded for $47.8 million. The name of the buyer was not disclosed. A 30-Year PILOT agreement is in place at the property. Twenty percent of The Waverton’s 116 units are offered at affordable rents. Income restrictions were not disclosed.
The property features a 191-space parking garage, a fitness center with a yoga studio and an outdoor lounge with grills, fire pits and an outdoor TV. Additional amenities include billiards and shuffleboard and coworking spaces with and conference rooms. The Waverton is situated along the Hackensack River, seven miles northwest of Manhattan. CBRE’s team was led by Jeffrey Dunne, Stuart MacKenzie, Eric Apfel and Travis Langer.