BRANCHBURG, N.J. — Walters has completed the lease-up of Cornerstone at Branchburg, a 150-unit property in the northern New Jersey township of Branchburg. The locally based developer broke ground on the asset in May 2021 and began leasing last spring. Cornerstone at Branchburg comprises a pair of three-story buildings on an 11.7-acre site. Units come in in one- and two-bedroom floor plans and range from 700 to 900 square feet in size. Amenities include a fitness center, game room and outdoor grilling and dining areas.
ALLENDALE, N.J. — The Hampshire Cos. has opened The Vale, a 70-unit community located at 220 W. Crescent Avenue in the northern New Jersey borough of Allendale. The Vale was designed by DMR Architects. The community offers one- and two-bedroom apartments with features such as quartz countertops, mosaic tile backsplashes, custom cabinetry, stainless steel appliances and plank flooring. Amenities include a clubroom, lounge, fitness center and a 9,460-square-foot outdoor courtyard.
ELMWOOD PARK, N.J. — JLL Capital Markets has negotiated the $49 million capitalization for the second phase of Riverwalk, a four-phase master-planned development in Elmwood Park. Phase two of Riverwalk will comprise 150 units across two buildings, and is slated to deliver in the fourth quarter of 2024. At full build-out, the community will offer amenities such as a fitness center, outdoor pool deck, lounge and a business center. The property will also feature 15,000 square feet of retail space. JLL represented the borrower, Riverwalk, to secure the $32 million …
ALLENDALE, N.J. — The Hampshire Cos. has opened The Vale in Allendale, about 30 miles north of New York City. The community features 70 apartments in one- and two-bedroom floor plans. Of the total unit count, six units are set aside as affordable housing. Three units are designated for first responders. Amenities include a 9,460-square-foot courtyard, clubroom, storage, lounge and gym. The project was designed by DMR Architects.
WEST NEW YORK, N.J. — JLL has arranged a $150 million loan to facilitate the construction of RB3, a 426-unit development to be located across the Hudson River from Manhattan in West New York. Jon Mikula, Jim Cadranell, Steven Klein and Ryan Carroll of JLL arranged the five-year, fixed-rate loan through Northwestern Mutual. The borrower was Canoe Brook Development. RB3 will rise 11 stories within the 200-acre Port Imperial master-planned development. The waterfront property will offer studio, one- and two-bedroom units. Planned amenities include a pool, fitness center, clubhouse, private …
ORANGE, N.J. — The Kislak Co. Inc. has arranged the $13.8 million sale of Wedgewood House, an 80-unit community in the New York City suburb of Orange. Joni Sweetwood of Kislak represented the seller in the transaction. Daniel Lanni of Kislak represented the buyer. Both parties requested anonymity. The garden-style complex was built on 1.8 acres in 1968 and was recently renovated. Units come in studio, one- and two-bedroom floor plans.
MORRISTOWN, N.J. — Gebroe-Hammer Associates and Berkadia have negotiated the sale of The Metropolitan Lofts, a 59-unit community located at 11 DeHart Street in Morristown’s downtown area. Veris Residential and Woodmont Properties sold the asset to an unnamed investor. Gebroe-Hammer Associates and Berkadia represented the sellers in the deal. The Metropolitan Lofts was built in 2018. The property offers one- and two-bedroom apartments ranging from 679 to 1,203 square feet in size. Amenities include a fitness center, yoga room, spin studio, golf simulator with lounge seating, bike storage and an …
ISELIN, N.J. — Cushman & Wakefield has brokered the sale of a development site located at 186 Wood Ave. S. in the northern New Jersey community of Iselin. The site is located within the Centra at Metropark office campus. The Hampshire Cos. sold the asset to Woodmont Properties for an undisclosed price. Andrew Merin, David Bernhaut, Gary Gabriel, Frank DiTommaso and Ryan Larkin of Cushman & Wakefield represented the seller in the deal. The buyer did not disclose specific plans for the project.
ROSELLE, N.J. — The Kislak Co. has arranged the $6.9 million sale of Sheridan Garden Apartments, a 35-unit complex in the New York City suburb of Roselle. Sheridan Garden Apartments was originally built in 1928. Joni Sweetwood of Kislak represented the seller, an entity doing business as Sheridan Estate Urban Renewal LLC, in the deal. Sweetwood also procured the buyer, Harrison Grove Holdings LLC.
JERSEY CITY, N.J. — SCALE Lending, the debt financing subsidiary of Slate Property Group, has provided two cross-collateralized loans totaling $243 million for two buildings in Jersey City’s Journal Square neighborhood. The borrower was Namdar Group. Drew Fletcher and Bryan Grover of Greystone Capital Advisors arranged the loans. Firstly, SCALE Lending issued a $160 million construction loan for a 27-story tower located at 626 Newark Avenue. The mixed-use development will offer 576 apartments, as well as 9,915 square feet of street-level retail and 17,747 square feet of office space. The project …