Luxury high-rise in North Bergen sells for $166M

By Eric Strauss
North Bergen | Oct 30, 2017 at 10:42 am

A Hudson waterfront luxury high-rise has sold for $166 million, according to real estate brokerage Gebroe-Hammer Associates.

The Duchess, along River Road in North Bergen, is a three-tower property that recently began welcoming its first tenants, the brokerage said. Philadelphia-based Post Brothers bought the property at 7601 River Road from Edgewater-based developer LWH Urban Renewal LLC.

Gebroe-Hammer’s team, which represented both the buyer and the seller, was led by Joseph Brecher, managing director, and included David Oropeza, managing director; Eli Rosen, senior vice president; and Nicholas Nicolaou, senior vice president. Gebroe-Hammer had brokered the land parcel development agreement back in 2014.

“The Duchess has set a new standard for Hudson Waterfront living, where renter-by-choice tenants value a high-end lifestyle, ‘front door’ transit conveniences and proximity to New York City, as well as its views, which they can bask in at any time of day from their apartment homes,”Brecher said in a prepared statement. “New Jersey’s Gold Coast is an ideal market that aligns with the buyer’s business strategy to offer differentiated multifamily product within in-demand submarkets like North Bergen.”

Leasing at the Duchess, which is located adjacent to Hackensack Meridian Health’s Palisades Hospital, began in the spring. The property includes studio, one-, two- and three-bedroom apartments ranging from 600 square feet to 2,600 square feet.