Robert Ploshnick of Gebroe-Hammer Associates represented the seller RCP General, in the transaction. Details of the sale, including the price, were not released.
"The Riverside Tower Apartments has undergone a number of capital improvements since 1999," according to Richard Stadtmauer, managing partner and vice chairman for Kushner, whose portfolio now totals some 24,000 units throughout the Northeast and in Florida. "In order to maximize the value of this prime property, we are planning substantial renovations to the exterior and interior."
The buy marks Kushner's second in Middlesex County this year. Earlier, the company added the 214-unit Tanglewood Terrace garden apartment complex in nearby Piscataway to its portfolio.
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