Well-Located Bergen County Multifamily Trades for $29M

Cushman & Wakefield arranged the sale of 8 Tice Rd., a 52-unit multifamily property in the Bergen County borough of Franklin Lakes, NJ. The final sale price was $29,000,000.

A Cushman & Wakefield team of Niko Nicolaou, Ryan Dowd, Andrew Schwartz, Jordan Sobel, Andre Balthazard and Dan Bottiglieri represented both the seller, Adoni Property Group, and procured the buyer, Four Point Holdings, LLC. “8 Tice Rd. stands out due to its modern amenities and strategic location, offering residents a high-quality living experience in one of the region’s most desirable communities,” said Nicolaou.

Added Sobel, “The property’s appeal and the competitive sale process underscore the robust investor interest in well-located multifamily assets.”

The property benefits from proximity to major roadways including I-287 and Route 208, providing convenient access to regional employment centers and retail destinations. Residents have easy connectivity to shopping, dining and recreational activities, along with access to top-rated schools and community services.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-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 7-10 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 GlobeSt.com 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).

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