Bergen County, NJ — Hudson Atlantic, a commercial real estate brokerage, is pleased to announce the successful closing of The Highlander apartment building located in Bergen County at 420 Highland 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, facilitated by Adam Zweibel, co-founder & managing partner of Hudson Atlantic, along with the assistance of Dante Fusaro, sales associate.
The sale highlights Hudson Atlantic’s commitment to delivering exceptional results in a challenging capital market 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 approximately 8,000 residents. Wood-Ridge’s public schools are highly regarded, providing quality education to their residents. Wood-Ridge benefits from its strategic location 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 Pascack Valley Train Line.
The firm is excited to close many more upcoming deals in their pipeline in 2024.
Hudson Atlantic is an investment brokerage firm providing services to property owners, investors, and developers of commercial real estate.