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The Duchess is Hudson Waterfront’s newest luxury complex Gebroe-Hammer finalizes $166m sale of NJ Gold Coast hi-rise development

ISSUE HIGHLIGHTS Volume 29 Issue 21 November 10 - 23, 2017

Lender’s Directory N 19-22A

and a veranda boasting yoga decks, a sandbox, co-working space and child-friendly spaces. The interiors were designed by a world-renowned designer with extraordinary kitchen and bath features as well as the new owners’ hallmark finishes and furnishings. “The Duchess has set a new standard for Hudson Water- front living, where renter-by- choice tenants value a high-end lifestyle, ‘front-door’ transit conveniences and proximity to NYC as well as its views, which they can bask in at any time of day from their apartment- homes,” said Brecher. “New Jersey’s Gold Coast is an ideal market that aligns with the buyer’s business strategy to of- fer differentiated multi-family product within in-demand sub- markets like North Bergen.” Founded in 2007, Post transaction. The sale of a 16,500 s/f of- fice building at 2121 Rte. 22, Bridgewater, NJ from Bridge- water East Associates to Capi- tal Care BR, LLC. The sales price was $2,546,250. Gregg Nowell and Douglas Sitar were the salespeople in this transaction. The sale of 3.7 acres of land at 1711 Rte. 34 in Wall Twp., NJ from Wall Land LLC to New Jersey State Firemen's Association. The sales price was $999,000. Robert Jan- Tausch and Douglas Sitar were the salespersons in this transaction. The sale of 11 acres of land at 300-500 Madison Ave. in Manalapan, NJ from Madison Exchange LLC to J&J Commer- cial Exchange LLC. The sales price was $950,000. Robert JanTausch was the salesperson in this transaction. The sale of an 8,300 s/f in- dustrial building at 5007 In- dustrial Rd. in Wall Twp. from Fourkay Realty LLC to

Brothers Apartments is a ver- tically integrated ownership, management and real estate development firm offering con- temporary luxury residences throughout the PA, NY and NJ metropolitan areas. Situated adjacent to Hack- ensack Meridian Health/Pali- sades Hospital, The Duchess offers a mix of studio and one-, two- and three-bedroom lay- outs, ranging from 600 s/f to a three-bedroom, three-bath 2,600 s/f penthouse. In addi- tion to a River Rd./Palisades Center “front door” bus stop offering service via the 156, 158, 159 and 188 lines, the three-building interconnected 12-story complex is minutes fromEdgewater Ferry Landing at Port Imperial (1.6 miles), I-495 and the Lincoln Tunnel as well as the George Washington Bridge. n MAG Enterprises. The sales price was $792,000. Brian Schrader and Robert Jan- Tausch were the salespeople in this transaction. The sale of an 8,000 s/f office building at 6 Wesley Court in Middletown, NY from the In- ternational Union of Operating Engineers, Local 825 to Seneco Enterprise. The sales price was $585,000. Douglas Sitar, William Sitar Jr., and Joseph Allegro were the salespeople in this transaction. The sale of a 4,800 s/f retail building at 57 Main St. in Bradley Beach, NJ from 57 Main LLC to CJB Realty As- sociates . The sales price was $420,000. Brian Schrader was the salesperson in this trans- action. The sale of a 3,750 s/f retail building at 5201 Pacific Ave., Wildwood, NJ from National Loan Investors, LP to Ahn Nguyen. The sales price was $150,000. Robert Bogash was the salesperson in this transaction. n

orth Bergen, NJ — Gebroe-Hammer Associates has final- ized the $166 million sale of the Hudson Waterfront’s new- est River Road luxury hi-rise, The Duchess in North Bergen, representing the developer, LWH Urban Renewal LLC of Edgewater, and the buy- er, Philadelphia-based Post Brothers . Managing director Joseph Brecher spearheaded the Gebroe-Hammer team that included managing director David Oropeza , senior vice president Eli Rosen and se- nior vice president Nicholas Nicolaou . The transaction marked the official closing of the development agreement for the land parcel brokered by Gebroe-Hammer in 2014. A three-towered, 320-unit building located at 7601 River Rd., along North Bergen’s short

STIHL plans $25M expansion in Virginia Beach

The Duchess

stretch of River Rd. waterfront, The Duchess is the newest first- class urban-chic apartment building recently welcoming its first tenants to Phase I. Leasing opened this past spring for the uniquely styled and amenitized complex, which includes a water terrace with a heated outdoor pool, private cabana beds and sun chaises


Beacon Comm’l. RE inks sale of PA office building

Bill Sitar Jr. of Sitar Realty Company brokers industrial sale totaling$124.4m


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NJ; Washington, NJ; Brook- field, CT; Farmington, CT; Newington, CT; New Milford, CT; Boston, MA ; H y d e Pa r k , MA ; Quakertown, MA; Somer- ville, MA; and South Boston, MA; and Fair- less Hills, PA. Bill Sitar Jr. was the salesperson in these transactions. The sale of a 36,408 s/f retail center at 3 Walter Foran Blvd., Flemington, from Arnav In- vestments, LLC to Flemington Partners, LLC. The sale price was $5.6 million. Giorgio Vasilis was the salesperson in this transaction. The sale of an 80-room hotel at 2015 Burlington Mount Hol- ly Rd., Westampton from 2015 Burlington Mount Holly Rd., LLC to Westampton Realty, LLC. The sales price was $3.75 million. Thomas Palumbo was the salesperson in this Bill Sitar Jr.

Iselin, NJ — Sitar Realty Company of Iselin announced the following real estate sale transactions: The acquisition of 6,272 self-storage units measur- ing 673,558 s/f of industrial space with a purchase price of $124,464,308. Prime Group Acquisitions, LLC purchased properties in Clinton, NJ; Lin- denwold, NJ; Phillipsburg,

December 14, 2017 New Jersey Medical Properties Summit For speaking and sponsorship information, please contact: Lea at 781-740-2900 or lea.christman@marejournal.com


Financial Digest: Featuring Lender’s Directory Spotlight. ............5-26A DelMarVa.......................................................29-31A New Jersey................................................. Section B Pennsylvania.............................................. Section C

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