18 — February 2026 — Owners, Developers & Managers — M id A tlantic Real Estate Journal
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O wners , D evelopers & M anagers
The Residences at Joy Farms – 162 fully entitled apartment units – sells for $9.25 Million Hudson Atlantic Realty announces sale of 55+ Luxury Development Site In Paramus, NJ
ARAMUS, NJ — Hud - son Atlantic Realty announced the off-mar- ket sale of The Residences at Joy Farms, a fully approved 162-unit 55+ active-adult lux- ury apartment development site located at 731 Pascack Rd. in Paramus. Adam Zweibel , president of Hudson Atlantic, represented the seller and pro- cured the buyer in the $9.25 million transaction, equating to $67,000 per market-rate unit (138 market-rate units + 24 affordable units). The 9.877-acre shovel- ready site is entitled for three P
four-story residential build- ings plus a separate club- house, delivering 162 luxury apartment homes with a desirable mix of 41% one- bedroom and 59% oversized two-bedroom units. Future residents will enjoy best-in- class amenities including a yoga/exercise studio, read- ing lounge, seamless indoor/ outdoor social spaces, a bar/ kitchen area, and 188 garage and surface parking spaces. Formerly home to the his - toric Joy Farm – a cherished multi-generational family farm and garden center that
served the Paramus commu - nity for decades – the property marks a meaningful evolution of a local landmark into mod- ern senior housing while hon- oring the Joy family legacy. “This off-market transac- tion required discretion, deep relationships, and an intimate understanding of both the development community and the unique history of this site,” said Adam Zweibel. “We are proud to have exclusively represented the seller and delivered a premium outcome on one of Paramus’s most rec - ognizable properties. The new developer now holds the rare opportunity to deliver a trophy 55+ community in one of New Jersey’s premier submarkets, synergistically positioned with the new Brightview facility.” The site is strategically positioned behind the brand- new Brightview Joy’s Farm assisted living facility, which recently broke ground in mid- 2025 with construction un- derway and a welcome center expected to open in fall 2025 (full community completion anticipated in late 2026 or 2027). This adjacency creates a comprehensive, integrated senior living campus offer- ing a full continuum of care – from active adult indepen - dent living at The Residences at Joy Farms to assisted liv - ing, memory care, and more at the adjacent Brightview property – enhancing appeal and value for future residents and investors alike. A key factor in the transac- tion’s success was navigating the shared site work costs between the two adjacent de- velopments. The seller’s por- tion of these costs – totaling several million dollars – was carefully structured and reim- bursed at closing, simplifying what could have been a high- ly complex deal point. This seamless handling, combined with precise underwriting, deep market expertise, and strong relationships, ensured a smooth, premium outcome for the seller. The sale further cements Hudson Atlantic’s dominance in multifamily and develop- ment-site investment sales across the entire state of New Jersey. Zweibel, consis- tently ranked among the top- producing investment sales brokers in New Jersey, has closed more than $2 billion in career transactions. MAREJ
The Residences at Joy Farms
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