Jersey City, NJ — Hudson Atlantic, a leading real estate brokerage firm, announced the successful sale of Grand Gardens, a 16-unit apartment building for $2.35 million. Grand Gardens is in the heart of Bergen-Lafayette section of Jersey City. The property was listed, marketed, and sold by Ben Susskind, one of Hudson Atlantic’s rising stars, with support from Adam Zweibel, co-founder and managing partner of the firm.
The property traded at an impressive 4.46% cap rate when lending rates are significantly higher provides testament to Hudson Atlantic's unparalleled ability to identify the right target buyer pool. Susskind expressed his enthusiasm for a successful deal. "I am thrilled to have closed my first deal only eight months into the industry and to have played a key role in its successful sale. The support and mentorship from Zweibel and the entire Hudson Atlantic team were instrumental in achieving this outcome," said Susskind.
Zweibel, commended Susskind for his professionalism and strategic approach throughout the sale process. "We are proud to have Ben as part of our team, and his success with Grand Gardens represents our commitment to delivering exceptional results for our clients. The collaboration between Ben and the rest of the Hudson Atlantic team highlighted the strength of our collective expertise in the real estate industry," said Zweibel.
Grand Gardens was built in 1950 and is situated in a prime neighborhood in Jersey City surrounded by new developments all around it. The property consists of 1- and two-bedroom apartments that have $600+ rent upside and is within walking distance to a light rail station offering a 20-minute commute to Manhattan.
Hudson Atlantic continues to be a driving force in New Jersey real estate. The firm's commitment to excellence and strong bench of expertise positions it as a trusted partner in achieving the real estate investment goals of their clients.
Hudson Atlantic is an investment brokerage firm specializing in multifamily investment sales in New Jersey.