River Edge at Garfield at 600 Autumn Lane in Garfield — Courtesy: Cushman & Wakefield
By Joshua Burd
One of Bergen County’s newest luxury apartment properties, a 104-unit complex in Garfield, has hit the market for sale.
Brokers with Cushman & Wakefield are marketing the two-year-old property, River Edge at Garfield, touting its proximity to NJ Transit rail service and several major highways. Located at 600 Autumn Lane, the community is 98 percent leased across its two four-story buildings.
“River Edge is set in an attractive neighborhood along the Passaic River,” said Brian Whitmer, who is part of the Cushman & Wakefield capital markets team that is marketing the property. “It offers an outstanding location for commuters — just minutes from mass transit and major highways including Route 46, Route 20/21, I-80 and the Garden State Parkway via Exit 157.”
The C&W team also includes Andrew Merin, David Bernhaut, Gary Gabriel, Ryan Dowd, Mark Phillips, John Alascio and Sri Vankayala.
River Edge features a mix of studio and one- and two-bedroom units with an average size of 1,020 square feet, according to a news release. Each apartment has high-end finishes and appliances, while residents also have access to covered parking and amenities such as an outdoor swimming pool with tanning area, patio, fitness center and package concierge services.
C&W noted that the property also provides easy access to MetLife Stadium, American Dream, Teterboro Airport, Newark Liberty International Airport and Westfield Garden State Plaza.
“River Edge offers an investor the opportunity to own one of Bergen County’s newest apartment communities in an extremely high barrier to entry submarket, allowing for sustained future appreciation,” Whitmer said. “The property also offers significant near-term revenue growth potential by stabilizing rental rates upon rollover and increasing other income through additional property enhancements.”