CBRE sells Lexington Riverview for $14.9 million

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, announced 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.”

CBRE Institutional Properties is currently marketing for sale The Orchard, a 285-unit community in Jersey City, NJ; Crossings at Raritan Station, a 276-unit unit community in Raritan, NJ; The Hartlan, a 234-unit community in Linden, NJ; The Archive, a 166-unit apartment community in New Haven, CT; Brookside Gardens & Lynn Apartments, a 179-unit portfolio in Bridgeport, CT; Grand Ryefield, a 90-unit apartment community in Bloomfield, CT; and 51 South, a 134-unit community in White Plains, NY.