The Fairview, 371 Bergen Boulevard, Fairview, NJ
FAIRVIEW, NJ—J.P. Management has acquired The Fairview, a 12-story, class A apartment property in Fairview, Bergen County, NJ, from Roizman Development for $43 million.
A Holliday Fenoglio Fowler team led by José Cruz, Stephen Simonelli, Kevin O'Hearn, Michael Oliver, Jordan Avanzato and Ryan Robertson marketed the property exclusively on behalf of the seller. J.P. Management purchased the property free and clear of existing debt.
“The property's location in the heart of Fairview in Bergen County helped to drive investor interest while the recent renovation and upside in rents pushed pricing,” says Cruz.
The Fairview, 371 Bergen Boulevard, is in the Bergen County Hudson Waterfront submarket, which provides easy access to Manhattan via a variety of transportation options.
The property consists of a diverse mix of 146 market-rate one-, two- and three-bedroom units averaging 991 square feet. After a full renovation and repositioning in 2017, residences are equipped with in-unit washers and dryers, stainless steel appliances, quartzite countertops, hardwood flooring and balconies in select units. The property also offers a swimming pool, fitness center, covered parking, controlled access and views of the New York City skyline.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
