April 2024

M id A tlantic Real Estate Journal — Owners, Developers & Managers — April 2024 — 23A


O wners , D evelopers & M anagers

Zweibel and Fusaro orchestrate sale of The Highlander Hudson Atlantic closes Wood-Ridge, Bergen County, NJ Apartment Building for $3.6 Million

B ERGEN COUNTY, NJ — Hudson Atlan- tic , a commercial real estate brokerage, is pleased to announce the successful closing of The Highlander apartment building located in Bergen County at 420 High- land Ave, Wood-Ridge New Jersey. The 19 unit property was sold for first time by the original ownership who built the property in 1977 for $3.6 million, a price per unit of nearly $190k and a cap rate of 5.2%. The transaction, fa- cilitated by Adam Zweibel , co-founder & managing part - ner of Hudson Atlantic, along with the assistance of Dante Fusaro , sales associate. The sale highlights Hudson Atlantic’s commitment to de- livering exceptional results in a challenging capital market Delavale of Breslin Realty handles retail transactions in PA & New York Whitman Plaza PENNSYLVANIA & NEW YORK — Breslin Realty announced several recent de- velopments in their portfolio, all facilitated by Robert Dela- vale , vice president of leasing at the Breslin. Verizon will be occupying 2,000 s/f in the Whitman Plaza shopping center at 330 W Or - egon Ave., Philadelphia, PA. The transaction was ar- ranged and negotiated for the landlord by Delavale. In West Hempstead, NY, Jersey Mike’s Subs has recently opened a new 1,100 s/f store in the Nassau Plaza shopping center, located at the intersec- tion of Hempstead Tpke. and Nassau Blvd. The transaction was ar- ranged and negotiated for the landlord by Delavale. Breslin Realty announced the grand opening of Five Be- low at 410 S Oyster Bay Rd., Hicksville, NY. Additionally, Five Below has celebrated its grand opening at 410 S Oyster Bay Rd., Hicks- ville, NY, occupying 10,500 s/f of the Woodbury SC. The transaction was arranged and negotiated for the landlord by Delavale. MAREJ

environment. “We are thrilled to have facilitated the sale of The Highlander for the original owners of this 47 year old building,” said Zweibel. Fusaro added “We are proud to have played a role in this rare multifamily sale in prime Bergen County”. Wood-Ridge is a charming borough located in Bergen County, within the greater New York City metropolitan area. With a population of ap- proximately 8,000 residents. Wood-Ridge’s public schools are highly regarded, provid- ing quality education to their

residents. Wood-Ridge ben- efits from its strategic loca - tion near major highways and public transportation, making it convenient for commuters to access nearby cities like New York City. The property is only a 15-minute walk to the train station which runs on the Pas- cack Valley Train Line. The firm is excited to close many more upcoming deals in their pipeline in 2024. Hudson Atlantic is an invest- ment brokerage firm providing services to property owners, investors, and developers of commercial real estate. MAREJ

The Highlander

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