Page 14 - RE-NJ

12 SEPTEMBER 2023
DENHOLTZ ACQUIRES NEWLY BUILT NORTH BERGEN APARTMENTS
Denholtz Properties has added
to its apartment portfolio after acquiring a newly constructed, 214-
unit property in North Bergen for $89 million.
The firm in mid-August said the luxury complex, located at 4828 Tonnelle Ave., was 98 percent leased across a footprint that includes a trio of three-story buildings with a combined 138 units and a single five-story building with 76 homes. The development known as Solo at North Bergen also has a 5,000-square-foot clubhouse with a series of high-end amenities, while residents are steps from NJ
Transit’s Tonnelle Avenue light rail station and bus service with direct access to New York City.
Nat Gambuzza and Spencer Beriont of Berkadia represented the seller, SYM Investments. Jonathan Brody, formerly of Rosewood Realty Group, represented Denholtz in its acquisition.
“North Bergen’s growing population and unparalleled access to many of the region’s largest employment and entertainment hubs makes it a highly desirable location,” said Stephen Cassidy, president of Red Bank- based Denholtz. “This acquisition speaks to our commitment to expanding our multifamily portfolio through an intelligent and strategic approach to growth. We look forward to deploying our time-tested
Solo at North Bergen at 4828 Tonnelle Ave. in North Bergen
residential management platform at the property to create one of northern New Jersey’s premier residential communities.”
In announcing the deal, the firm noted that Solo at North Bergen
has amenities such as billiards and gaming tables, a modern fitness center and an outdoor swimming pool with grilling stations, among others. It’s also minutes from major highways including Route 3 and interstates 95 and 495.
Courtesy: Berkadia
foot complex at Bay Avenue and Hooper Avenue in Toms River. RIPCO Real Estate’s Steven Winters and Mike Horne represented ownership.
2480 ROUTE 22 LLC leased 11,340 square feet at 2480 Route 22 in Kenilworth to Pure Hockey. The Goldstein Group’s Marc Palestina and Chuck Lanyard represented the
landlord, while Newmark’s Dean Tselepis represented the tenant.
HOFING MANAGEMENT leased 8,000 square feet at 20 Arctic Parkway
in Ewing to Divinity Clergy Wear. Fennelly Associates’ Jerry Fennelly and Patrick Dintrone represented ownership, while McCann Commercial Realty represented the tenant.
PRINTPLUS leased 7,932 square feet at Greenwich Center, a 308,054-square- foot complex at 1208 New Brunswick Ave. in Phillipsburg. Jeffery Realty’s Shane Wierks and Bob Bartnett of KW Commercial Clinton represented the landlord and tenant, respectively.
KABR GROUP leased a combined 4,220 square feet at 28-46 South Dean St., a 43,000-square-foot property in Englewood, to Suofeiya and Laser Away. RIPCO Real Estate’s Deborah Stone represented ownership in both deals. She also represented Suofeiya, a cabinet maker, while Michael Miller of SCG Retail represented Laser Away, a hair removal chain.
MANHATTAN BAGEL leased 2,800 square feet at 39 Route 31 in Flemington. CBRE’s Marta Villa and Sam Bernhaut represented ownership.
SJP PROPERTIES leased 2,646 square feet at M Station East, a 120,000-square- foot building in Morristown, to Sweetgreen. Glenn Beyer of Newmark represented ownership, while Jordan Cohn and Clare Golz of RIPCO Real
Estate represented the tenant, a fast- casual chain serving salads and grain bowls from scratch.
EDISON PROPERTIES leased 2,500 square feet at Ironside Newark, a 456,000-square-foot property at 110 Edison Place in Newark, to Project for Empty Space. Ryan Starkman of Pierson Commercial represented
ownership.
PSA REALTY CO LLC leased 2,400 square feet at 211 Main St. in Paterson to Krystal Restaurants. The Goldstein Group’s Chris Conway, Lew Finkelstein and CJ Huter represented both parties.
MR. JUICE leased 1,500 square feet at 397 Route 46, a 40,000-square-foot
property in Fairfield. Kevin Pelio of Azarian Realty Co. represented both parties.
FINANCE
SLATE PROPERTY GROUP originated a $160 million bridge loan to Namdar Group for a newly completed, 432- unit apartment tower at 618 Pavonia Ave. in Jersey City. Drew Fletcher and Bryan Grover of Greystone Capital Advisors arranged the loan.
An undisclosed lender provided $36 million in permanent financing to PRC Group for City Line Bayonne,
a new 162-unit luxury apartment complex at 317 Avenue E in Bayonne. Walker & Dunlop’s John Banas, Kris Wood, John Wilson, Rhett Saltiel and Erik DiGirolamo sourced the debt.
WALKER & DUNLOP provided a $6.738 million Fannie Mae loan to Reynolds Asset Management to refinance
The Vibe, a new 28-unit apartment building at 17-19 West Main St. in Bound Brook, with a 10-year term and a rate of 5.835 percent. RE
EXCLUSIVE PROPERTIES
FOR SALE
Orange, NJ
42 Units
Julie Gralla ext 224
Sussex, NJ
7 Residential Units + 4 Retail Units
Joseph Keenan ext 256
Dover, NJ
Land To Build 95 Residential Units + 7 For-Sale Townhomes
Joseph Keenan ext 256
Ocean Grove, NJ

Daniel Lanni ext 248
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2 Residential Units + 1,500 SF Retail Joseph Keenan ext 256
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Approved Site | 78 Residential Units
Julie Gralla ext 224
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Potential 156 Unit Development
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Sara Soliman ext 309
Belleville, NJ
Approved Site | 14 Residential Units + 2 Commercial Units Matt Weilheimer ext 253
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The Kislak Company, Inc. | kislakrealty.com | 732 750 3000