Cushman & Wakefield arranges $51.75M sale of the Sterling in Fort Lee

The Sterling, 2055 Center Ave., Fort Lee.

A 128-unit multifamily property located at 2055 Center Ave. in Fort Lee sold for $51.75 million, according to a Tuesday announcement from Cushman & Wakefield.

Cushman & Wakefield’s Niko Nicolaou, Brian Whitmer, Ryan Dowd and Will Gerlin represented the seller and procured the buyer, Blue Diamond Equities, which preempted the marketing process.

Known as the Sterling, the 128-unit high-rise multifamily asset consists of 14 studio units, 56 one-bedroom units, 56 two-bedroom units and two four-bedroom units. Amenities include an updated lobby, granite countertops, stainless steel appliances, laundry facilities, pool/sundeck and ample onsite parking.

“Record-low supply in Manhattan has caused tenants to flock toward one of New Jersey’s most coveted neighborhoods, the Gold Coast,” Nicolaou stated. “The Sterling is ideally situated at the intersection of Interstate 95 and Routes 46 and 5, providing swift access to Manhattan, Hoboken and Jersey City, making the property well-positioned to capture continued renter demand.”