10B — December 28, 2018 - January 10, 2019 — Owners, Developers & Managers — M id A tlantic

Real Estate Journal


O wners , D evelopers & M anagers

5.35± acres along the Passaic River ideal for transit-oriented development CBRE arranges $14.5 million sale of multifamily development site


ARRISON, NJ — CBRE announced the $14.5 million sale of a

senior vice presidents Thomas Sullivan and Paul Touhey of Advisory & Transaction Services, represented the seller and also procured the buyer, 28th President LLC. "Our Tri-State Investment Properties team is proud to have achieved excellent pricing for our client, while at the same time providing a tremendous opportunity for the buyer to continue taking advantage of the transformation of the Har- rison landscape," said Berger. “We were able to help our client navigate this long and compli- cated process and are excited to be a part of Harrison’s down- town transformation. Along those lines, we also have a variety of similar deals coming to market over the next several months in Hudson County and other up and coming urban centers.” Ideally located along the Passaic River waterfront, just minutes from Manhattan, Hoboken and Jersey City, 15 Essex St. provides a unique opportunity for a large-scale development just blocks from the PATH station consisting of residential apartments, retail and parking facilities in one of the most active areas in New Jersey.  initiated by complaints of resi- dents, annual owner required visual inspections, lease turn- overs, or NYC inspections. What should you do? Get some of your staff trained in NYS Mold certifications (www. NAETI.com) or get affiliated with a NYS mold assessor or remediator (www.LEWCorp. com). Perform a visual survey for moisture intrusion and mold growth, and address concerns prior to the effective date of law. Consider pur- chasing a moisture meter and thermal imaging, but, most importantly, have a Standard Operating Procedure (SOP) for compliance with Local Law 55 of 2018 in place prior to 1/1/19, even if the SOP changes after- wards. Lee Wasserman, founder of LEW Corporation (Est. 1992), is a nationally rec- ognized industry leader who specializes in Envi- ronmental microbial and lead-based paint issues.  continued from page 7B NewYorkCityMold Law Goes Live January 19 . . .

5.35± development site at 15 Essex St. in Harrison. Located in a thriving transit-oriented residential and mixed-use neighborhood, which lies with- in the Waterfront Redevelop- ment area, the site consisted of a 233,000 s/f warehouse facility and a vacant lot utilized for parking. CBRE’s Charles Berger , first vice president; Elli Klap- per , first vice president; and Mark Silverman , associate, of the Tri-State Investment Properties team along with

15 Essex St


Geotechnical Design & AnalyƐŝƐͻnvironmental Site Assessments and

www.earthengineering.com Corporate Headquarters: 610-277-0880 ͻ Lehigh Valley: 610-967-4540 Central PA: 717-697-5701 ͻ South Jersey: 856-768-1001

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