Silk City Portfolio

Address: Passaic County, Paterson, New Jersey, US

New York & Tri-State + Apartments

Created date: September 5, 2023

Date last updated: September 16, 2023

• Ability To Acquire A Critical Mass Of Workforce Housing In One Of The Nations Most Densely Populated Areas
• Highly Attractive Assumable In-Place Financing
• Well-Cared-For New Construction

Property Description

As exclusive agent, Cushman & Wakefield is pleased to offer a 100% fee interest in the Silk City Portfolio (the “Property”) for sale. The offering presents a once-in-a-generation opportunity to acquire a workforce housing portfolio of scale located in Northern New Jersey. Ideally located the city of Paterson, an employment-driven epicenter in Passaic County, the Silk City Portfolio is poised to benefit from being located within one of the nation’s most densely populated regions, which is currently undergoing an economic revitalization that will continue to create value appreciation.This offering represents the extremely rare opportunity to acquire a substantial portfolio consisting of 97 buildings, totaling 1,540 residential units and 29 ground-floor retail suites. 51% of the portfolio is new construction, and the remaining buildings have been renovated within the past 10 years. The Silk City Portfolio is ideally positioned in the NE corner of Passaic County which allows it to draw from the densely packed surrounding labor pool that supports Manhattan, Jersey City & Hoboken. The entire portfolio is located within 9 miles of each other, creating economies of scale when managing and maintaining the assets.The Silk City Portfolio is being marketed unpriced and a call for offers date will be announced.

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