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Fort Lee Apartments Sell to JV for $117M
CBRE closed the $116.5-million sale of Hudson Lights, a 276-unit Class A apartment community in Fort Lee, NJ. The firm’s Jeff Dunne, Stuart MacKenzie, Eric Apfel, Zach McHale, Fahri Ozturk, Richard Gatto and Travis Langer represented the seller and procured the buyer, a joint venture between Skylight Real Estate Partners and PCCP LLC.
Completed in 2016, the property features an outdoor pool with cabanas, a fitness center with yoga room, resident lounge with billiards and catering kitchen, and a children’s playroom.
“The property’s exceptional performance this year is indicative of Fort Lee’s resurgence coming out of the pandemic,” said MacKenzie. “We expect this trend to continue, given Fort Lee’s proximity to New York City while also providing convenient accessibility to the greater region.”
Dunne added, “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.”
