Hudson Lights at 2030 Hudson St. in Fort Lee — Courtesy: CBRE
By Joshua Burd
A joint venture has acquired 276 luxury apartments in Fort Lee for $116.5 million, marking another high-profile addition to its portfolio along the Hudson waterfront.
According to CBRE, which represented an undisclosed seller in the deal, the purchase by Skylight Real Estate Partners and PCCP LLC comprises the residential portion of the mixed-use development known as Hudson Lights. The buyers are now planning upgrades at the six-year-old property, at 2030 Hudson St., which was completed as part of the high-profile project just west of the George Washington Bridge.
CBRE’s Jeff Dunne, Stuart MacKenzie, Eric Apfel, Zach McHale, Fahri Ozturk, Richard Gatto and Travis Langer represented the seller and procured the buyer.
“The property’s exceptional performance this year is indicative of Fort Lee’s resurgence coming out of the pandemic,” MacKenzie said. “We expect this trend to continue given Fort Lee’s proximity to New York City while also providing convenient accessibility to the greater region.”
Originally built by Tucker Development, Kushner Real Estate Group and funds managed by Ares Management, Hudson Lights helped activate a long-vacant site within Fort Lee’s pedestrian-friendly downtown. The overall development spans nearly 1 million square feet and also includes retail and restaurant space along with an eight-screen, 533-seat iPic luxury movie theater.
CBRE announced the residential sale on Tuesday, noting that the property has an outdoor pool with cabanas, a fitness center with yoga room, a lounge with billiards and a catering kitchen and a children’s playroom. Residents have immediate access to dining, shopping and entertainment options in downtown Fort Lee, while they are less than 20 minutes from Midtown Manhattan, thanks to its location at the entrance of the George Washington Bridge.
“Skylight and PCCP will bring Hudson Lights to the next level with expanded and upgraded amenities plus the addition of small upgrades in the units,” Dunne said.
The deal follows several high-profile acquisitions over the past 12 months by the joint venture, including the $130 million purchase of a 226-unit luxury apartment tower in Edgewater. The firms have also purchased 100 units at a separate property in the township and 99-unit, loft-style building in Hoboken.
