The Fairview at 371 Bergen Blvd. in Fairview — Courtesy: HFF
By Joshua Burd
A recently upgraded, 146-unit apartment tower in Fairview has changed hands for more than $40 million, following a transaction announced Wednesday by HFF.
Brokers with the firm represented Roizman Development Inc. in its sale of The Fairview, a 12-story property at 371 Bergen Blvd. J.P. Management acquired the building for $43 million.
The HFF team 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 said, touting its proximity to the Hudson waterfront and its multiple transportation options.
The Fairview includes a mix of one-, two- and three-bedroom units averaging 991 square feet, HFF said in a news release. After a full renovation and repositioning in 2017, each apartment has in-unit washers and dryers and high-end finishes.
The property also has a swimming pool, fitness center, covered parking, controlled access and views of the New York City skyline, HFF said.
