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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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout