Nanuet, NY JLL Capital Markets announced today that it has closed the sale of Alister Nanuet, a 504-unit, value-add multi-housing community. JLL worked on behalf of the seller. Cammeby’s acquired the asset, moving from contract to closing in less than 30 days.
Located less than a mile from the intersection of the Garden State Pkwy, Interstate-287, and the Palisades Interstate Pkwy, residents can easily access New Jersey, Connecticut and New York. In addition, Alister Nanuet is less than three miles from the Spring Valley and Nanuet Metro North Stations and Park and Rides, providing additional train and bus access to midtown and lower Manhattan. The property is only 10 miles from the Mario Cuomo Bridge and the New Jersey border, creating a short commute to employment areas in Westchester and Bergen Counties.
The JLL Capital Markets team representing the borrower was led by Jose Cruz, Michael Oliver, Steve Simonelli, Kevin O'Hearn and Michael Zlotnick.
“The renovation upside and infill location drove the investor interest for Alister Nanuet,” said Cruz. “The suburban New York area multi-housing market is going into 2022 with strong rent growth and significant demand from multiple capital sources.”
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