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Claremont Development has sold The James, a five-story apartment property in Park Ridge, NJ, for $130 million

Claremont Trades Park Ridge Apartments for $130M

Claremont Development closed the sale of The James, a 240-unit multifamily property located at 87 Madison Avenue in Park Ridge, NJ. The final sale price was $130,000,000. 

Cushman & Wakefield’s Brian Whitmer, Niko Nicolaou and Ryan Dowd represented Claremont. “The property’s location in one of Bergen County’s best downtowns is one of the main drivers for selecting this site for redevelopment and ideally positions the property for long term stability and growth,” said a representative of Claremont Development.  

The five-story property, named for the late Park Ridge native and star of “The Sopranos” James Gandolfini, offers studio units, one-bedroom units and two-bedroom units, with 20 units set aside for affordable housing. Amenities include multiple social and entertainment lounges, billiards, shuffleboard, fitness center, tasting room, coffee bar, co-working spaces, private offices, patio dining, barbeque stations and an outdoor pool. The ground floor features 17,600 square feet of retail space. 


Inside The Story

ClaremontCushman & Wakefield's Whitmer

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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