Village at Falcon Point, 56-unit multifamily development in Woodbridge, is sold

The Village at Falcon Point, a newly constructed, 56-unit multifamily property located in the Port Reading neighborhood of Woodbridge, was sold in a deal brokered by NAI DiLeo-Bram, the firm announced.

The Village at Falcon Point, which was completed in 2020, is just minutes from downtown Woodbridge, many schools, shopping and dining options. It is convenient to several of the state’s most traveled highways, including the Garden State Parkway, the New Jersey Turnpike, Interstate 287 and routes 1, 9 and 440.

The developers feel the community has a pleasing, townhouse-style aesthetic consisting of stone, steel awnings and siding that is consistent with condominium-quality construction.

The development consists of seven buildings, each containing eight units that all have their own private access, which has been an ideal feature for residents throughout the pandemic. Each unit is a corner and boasts hardwood floors, 9’ ceilings, walk-in closets and full-height windows, allowing for an abundance of natural light.

The NAI DiLeo-Bram team of Chief Operating Officer David Simon along with associates Robert DiLeo, Matthew DiLeo and Kyle Gerace, represented the seller, Falcon Partners. The buyer was not disclosed.

“The developers built this property with the intention of holding it for many years,” Simon said. “Their attention to every detail and hands-on management approach enabled them to fully stabilize the property quickly in a competitive market during an unforeseen global health crisis.

“The buyer recognized the quality of this unique property and was excited to add it into its existing portfolio.”