WOOD-RIDGE, N.J. — Hudson Atlantic has arranged the $3.6 million sale of The Highlander, a 19-unit community in the northern New Jersey borough of Wood-Ridge. Adam Zweibel and Dante Fusaro of Hudson Atlantic brokered the deal. The buyer and seller were not disclosed. The seller originally developed The Highlander in 1977. According to Apartments.com, the property exclusively offers one-bedroom floor plans.
LONG BRANCH, N.J. — Kushner has begun constructing a $130 million development in Long Branch, a beachside city in northern New Jersey. Minno + Wasko Architects & Planners designed the property. The first units are expected to be available for occupancy in late 2025. The community will offer 299 units across two four-story buildings. Units will come in studio, one-, two- and three-bedroom floor plans. Planned amenities include a pool, fitness center, co-working lounge, golf simulator, rooftop terraces, social lounges, pet spa, a children’s playroom and outdoor grilling and dining …
FLORHAM PARK, N.J. — Garden Communities has begun leasing 147 Columbia, a 126-unit complex in the Northern New Jersey borough of Florham Park. The site is located at 147 Columbia Turnpike and formerly housed an office building. The redevelopment began last year. The community now offers one- and two-bedroom floor plans that range from 861 to 1,535 square feet in size. Units feature with stainless steel appliances, custom cabinetry and individual washers and dryers.
HOBOKEN, N.J. — CBRE has negotiated the $7.5 million sale of a 13,000-square-foot development site located at 511-521 Newark St. in Hoboken. Fahri Ozturk, Richard Gatto, Zach McHale and Jeff Babikian of CBRE represented the seller, AIRN Management, in the deal. The site is included in a portfolio of seven Northern New Jersey parcels that have collectively been approved for the construction of 450 units. The buyer, a private developer headquartered in Hudson County, did not provide further plans for the site.
WESTFIELD, N.J. — Adoni Property Group has begun pre-leasing at The Franklin Westfield, a 40-unit building in the New York City suburb of Westfield. The Franklin Westfield offers flats, duplexes and penthouse duplex apartments. Units range from 750 to over 2650 square feet in size. Amenities include a pool and hot tub, putting green, pergola with grilling stations, lounge, dining/wine tasting room, fitness center, golf/multisport simulator, theatre, business center, library, dog park and pet wash. Monthly rents range from $4,300 to $8,000.
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 …