A rendering of a 104-unit multifamily development at 803 South Ave. in Plainfield — Courtesy: CBRE
By Joshua Burd
CBRE has brokered the sale of a fully approved development site in Plainfield, where plans call for 104 apartments within walking distance of NJ Transit rail service.
The firm said its client, a partnership of Bennett Realty & Development and EDEN Property Company LLC, sold the property at 803 South Ave. to an entity listed as West of Hudson. Terms were not disclosed.
“We are thrilled with the outcome of the process on behalf of Bennett Realty & Development and EDEN Property Company LLC in this sale,” CBRE’s Jeremy Neuer said. “Plainfield is a community on the rise and the interest in this site reflected that. Tyler Bennett, Dennis Cieri and their team did an amazing job of taking this site through the development cycle.”
The CBRE team of Jeffrey Dunne, Neuer, Gene Pride and Zach McHale, along with colleagues Nat Gambuzza and Trevor Fiebel represented the sellers and procured the buyer. They noted that the site is within walking distance of the Netherwood train station, which provides direct access to Manhattan, and minutes from routes 22, 27 and 28 and interstates 78 and 287.
“This fully amenitized project will provide its residents with a magnificent 8,900-square-foot outdoor amenity space with three separate seating areas and a grilling station, a club room, fitness center and covered (and) secure parking,” Gambuzza said. “This project will stand out among the new construction in the area.”
