CBRE broker $14.9 million sale of Lexington Riverview in Fair Lawn, N.J.

Fair Lawn, NJ Representatives of CBRE, led by Jeffrey Dunne, Stuart MacKenzie, Eric Apfel, Travis Langer, and Eric Greenberg of CBRE Institutional Properties, in partnership with Charles Berger of CBRE Investment Properties, negotiated the sale of Lexington Riverview, a Class A multifamily community for $14.9 million. CBRE represented the seller while David Ferber with Matthews represented the buyer.

Completed in 2021, Lexington Riverview consists of 43 market-rate apartments. The property is situated along the Passaic River, offering waterfront views, while only one mile away from NJ Transit’s Radburn Train Station, providing access to New York in 45 minutes.

Lexington Riverview is a boutique luxury apartment community featuring oversized units with contemporary finishes along with a competitive amenity package including fitness center, resident lounge and covered parking. 

“We are pleased to have represented the seller in the disposition of this unique asset,” said MacKenzie. “The property benefits from its location in Fair Lawn featuring excellent schools while providing easy access to New York and the surrounding area.” 

“We generated significant interest in the asset by combining CBRE’s institutional and private capital platforms,” said Berger. “We’re thrilled with the outcome, especially given the challenges in today’s market driven by interest rate volatility.”