Hudson Atlantic Realty sells Old Bridge portfolio for $24.5M 

Hudson Atlantic Realty has started 2022 with great successes. The Matawan-based brokerage, co-founded by Adam Zweibel and Jeffrey Otteau, on Monday announced that it has already closed four multifamily deals in 2022, the latest of which was a two-property portfolio that sold for $24.5 million.

Located in Old Bridge Township, the portfolio included the Old Bridge Town Center and Geick Park Residency properties.

Old Bridge Town Center is a mixed-use property with 27 apartments and seven commercial spaces totaling 19,000 square feet. The building features large apartments with Juliette balconies and is near to a vibrant mix of restaurants and shops.

Just one mile away is Geick Park Residency, a brand-new 33-unit age-restricted multifamily property. With its large unit sizes, swimming pool, fitness center and balconies, it is especially appealing to 55-plus households seeking a more leisurely lifestyle.

Both properties are easily accessible from Route 9, Route 18 and the Garden State Parkway, and are within a short drive to employment centers, colleges and hospitals.

“Packaging multiple properties into a single transaction with both conventional and active-adult apartments, and commercial spaces, requires a comprehensive marketing plan,” Zweibel said.  “Because we were able to target the right buyer profile for this deal, the seller was able to maximize its investment return.”