Claremont Development completes $130M sale of 240-unit multifamily property in Bergen County

It’s got luxury residential units, retail, lots of modern amenities and it just sold for $130 million.

The James, a 240-unit multifamily property developed by Claremont Development in Park Ridge, is named for the late Park Ridge native and star of “The Sopranos,” James Gandolfini. The five-story asset offers studio, one- and two-bedroom units that deliver the best aspects of modern, city-style living, in a charming suburban location.

Located at 87 Madison Ave., the community is within walking distance to an array of retail, dining and entertainment options and is in proximity to the New Jersey Transit Park Ridge station.

Amenities include multiple social and entertainment lounges, billiards, shuffleboard, fitness center, tasting room, coffee bar, coworking spaces, private offices, patio dining, barbecue stations and an outdoor pool. The ground floor features 17,600 square feet of retail space.

“The property’s location in one of Bergen County’s best downtowns is one of the main drivers for selecting this site for redevelopment and ideally positions the property for long term stability and growth,” a representative of Claremont Development stated.

Cushman & Wakefield’s Brian Whitmer, Niko Nicolaou and Ryan Dowd represented the seller in the transaction.

The property also allows for an easy commute to New York City, which is approximately 30 miles away.