7101 River Road in North Bergen — Courtesy: RIPCO Real Estate
By Joshua Burd
The developer of a new 59-unit luxury apartment building in North Bergen is seeking a buyer for the property, brokers with RIPCO Real Estate announced Wednesday.
According to the team, the asking price for the building at 7101 River Road is $43 million. RIPCO’s Stephen R. Preuss Sr., Kevin Louie and Michael Fasano are representing the would-be seller, Apple View LLC, noting that the five-story property has unobstructed views of the Hudson River and a location between the George Washington Bridge and Lincoln Tunnel.
“7107 River Road is an opportunity for a buyer to attain a stabilized income producing asset with an assumable loan with almost 10 years remaining at an initial rate of 3.75 percent,” said Preuss, a vice chairman at RIPCO. “We are confident that this property will serve the community by offering new residents with a newly built living space near breathtaking scenery including incredible views, hiking trails and public parks.”
The brokers added that the 119,000-square-foot building, which opened earlier this year, is surrounded by diverse restaurants, local merchants and big-box retailers. Residents, meantime, are minutes from highways such as Route 1&9, Route 3 and interstates 95 and 80, while offering materials show the site has 117 parking spots.
