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 …
BAYONNE, N.J. — CBRE has arranged the $6.1 million sale of a 70-unit property at 90 Avenue E in Bayonne, a city that is located on a peninsula between Newark Bay and New York Bay. The project is currently under development and is fully approved with a 20-year PILOT. EOM sold the site to a private developer based in Hudson County. CBRE’s Fahri Ozturk, Richard Gatto and Zach McHale marketed the site and represented EOM in the deal. Hudson Realty represented the buyer.
MORRISTOWN, N.J. — The Kislak Co. Inc. has arranged the sale of Ridgedale Commons, a 29-unit development in Morristown. The asset traded hands for $6.8 million. Kislak’s Joseph Keenan represented the seller and procured the buyer in the deal. Both parties requested anonymity. The property is currently under construction, and will ultimately offer a single one-bedroom unit, 27 two-bedroom units and one three-bedroom unit. Four units will be subject to income restrictions.
JERSEY CITY, N.J. — Hudson Atlantic has brokered the $2.4 million sale of Grand Gardens, a 16-unit building in the Bergen-Lafayette section of Jersey City. Grand Gardens was built in 1950. The property offers one- and two-bedroom apartments. Hudson Atlantic’s Ben Susskind marketed the asset on behalf of the undisclosed seller, with support from Adam Zweibel. The buyer was also not disclosed.
TOMS RIVER, N.J. — JLL Capital Markets has brokered $26.8 million in financing for Camelot at Toms River, a 128-unit community in Toms River, which is located along the Jersey Shore. JLL worked on behalf of the borrower, Kaplan Cos., to secure the five-year, fixed-rate loan through Nuveen Real Estate. Michael Klein, Matthew Pizzolato and Salvatore Buzzerio led the JLL Capital Markets Debt Advisory team. Camelot at Toms River was built in 2023 and offers one- and two-bedroom units. Amenities include a 2,098-square-foot clubhouse, fitness center, yoga room, pool, barbeque …
MONTVALE, N.J. — Walters has finished constructing Cornerstone at Montvale, an income-restricted community in the New York City suburb of Montvale. Cornerstone at Montvale offers 25 units across two buildings. The community is available to households earning at or below 60 percent of the area median income. Rental rates are based on the renter’s gross annual income. Amenities include a fitness room, playground and outdoor areas with seating and gas grills. Residents will also have access to 55 parking spaces and a bike shed to accommodate 18 bicycles.