Gebroe-Hammer finalizes $166m sale of NJ Gold Coast hi-rise development

November 21, 2017

 

North Bergen, NJ — Gebroe-Hammer Associates has finalized the $166 million sale of the Hudson Waterfront’s newest River Road luxury hi-rise, The Duchess in North Bergen, representing the developer, LWH Urban Renewal LLC of Edgewater, and the buyer, Philadelphia-based Post Brothers. Managing director Joseph Brecher spearheaded the Gebroe-Hammer team that included managing director David Oropeza, senior vice president Eli Rosen and senior vice president Nicholas Nicolaou. The transaction marked the official closing of the development agreement for the land parcel brokered by Gebroe-Hammer in 2014. 
A three-towered, 320-unit building located at 7601 River Rd., along North Bergen’s short stretch of River Rd. waterfront, The Duchess is the newest first-class urban-chic apartment building recently welcoming its first tenants to Phase I. Leasing opened this past spring for the uniquely styled and amenitized complex, which includes a water terrace with a heated outdoor pool, private cabana beds and sun chaises and a veranda boasting yoga decks, a sandbox, co-working space and child-friendly spaces. The interiors were designed by a world-renowned designer with extraordinary kitchen and bath features as well as the new owners’ hallmark finishes and furnishings. 
“The Duchess has set a new standard for Hudson Waterfront living, where renter-by-choice tenants value a high-end lifestyle, ‘front-door’ transit conveniences and proximity to NYC as well as its views, which they can bask in at any time of day from their apartment-homes,” said Brecher. “New Jersey’s Gold Coast is an ideal market that aligns with the buyer’s business strategy to offer differentiated multi-family product within in-demand submarkets like North Bergen.”
Founded in 2007, Post Brothers Apartments is a vertically integrated ownership, management and real estate development firm offering contemporary luxury residences throughout the PA, NY and NJ metropolitan areas. 
Situated adjacent to Hackensack Meridian Health/Palisades Hospital, The Duchess offers a mix of studio and one-, two- and three-bedroom layouts, ranging from 600 s/f to a three-bedroom, three-bath 2,600 s/f penthouse. In addition to a River Rd./Palisades Center “front door” bus stop offering service via the 156, 158, 159 and 188 lines, the three-building interconnected 12-story complex is minutes from Edgewater Ferry Landing at Port Imperial (1.6 miles), I-495 and the Lincoln Tunnel as well as the George Washington Bridge. 
 

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