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| The Fairview Apartments, 371 Bergen Boulevard, Fairview, Bergen County, NJ |
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| Jose Cruz |
FLORHAM PARK, NJ –– Holliday Fenoglio Fowler, L.P. (HFF)
announces the $43 million sale of The Fairview, a 12-story, Class A apartment
property in Fairview, Bergen County, New Jersey.
The HFF team
marketed the property exclusively on behalf of seller, Roizman Development
Inc. J.P. Management purchased the property free and clear of existing
debt.
The Fairview is
located at 371 Bergen Boulevard within the prestigious Bergen County
Hudson Waterfront submarket, which provides commuters accessibility into
Manhattan via a variety of transportation options.
The property
consists of a diverse mix of 146 market-rate one-, two- and three-bedroom units
averaging 991 square feet. After a full renovation and repositioning in
2017, residences are equipped with in-unit washers and dryers, stainless steel
appliances, quartzite countertops, hardwood flooring and balconies in select
units.
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| Stephen Simonelli |
The property also
offers a swimming pool, fitness center, covered parking, controlled access and
views of the New York City skyline.
The HFF investment
advisory team representing the seller included Jose Cruz, Stephen Simonelli,
Kevin O’Hearn, Michael Oliver, Jordan Avanzato and Ryan Robertson.
“The property’s
location in the heart of Fairview in Bergen County helped to drive investor
interest while the recent renovation and upside in rents pushed pricing,” Cruz
stated.
HFF and Holliday GP
Corp. ("HFF") are licensed New Jersey real estate brokers.
Roizman
& Companies develops successful real estate initiatives by integrating a
visionary development company, Roizman Development Inc., with a hands-on
management company, S.H.N.I.R. Apartment Management Corp.
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| Kevin O'Hearn |
The highly skilled professionals in these two
divisions work together to formulate a unique perspective on how development
initiative should evolve, from site selection through development,
construction, lease-up and operation.
Roizman
believes that the business of real estate is also the business of people.
Its developments represent a long-term commitment to its residents and their
communities.
CONTACTS:
JOSE CRUZ
NJ Lic. #8743725
HFF Senior Managing
Director
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| Michael Oliver |
STEPHEN SIMONELLI
NJ Lic. #0456983
HFF Senior Director
(973) 549-2000
OLIVIA HENNESSEY
HFF Public Relations
Specialist
(713) 852-3500
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