CBRE facilitates sale of 288-unit Hudson Mews Apartments in North Bergen

Hudson Mews Apartments, a 288-unit multifamily community in North Bergen, has been sold for an undisclosed amount, according to an announcement from CBRE.

Representatives of CBRE, led by Jeffrey Dunne, Stuart MacKenzie, Eric Apfel, Travis Langer and Daniel Blumenkrantz, acted on behalf of the seller, Hudson Capital Properties, while also procuring the purchaser, Sym Investments.

Built in two phases, in 2019 and 2022, Hudson Mews is a Class A multifamily asset totaling 288 units within six buildings. The property benefits from a 30-year Payment in Lieu of Taxes, while providing investors with mark-to-market upside. Situated within 15 minutes of New York City, Hudson Mews is perched on the western edge of North Bergen, offering panoramic views of greater New Jersey along with an expansive amenity package including a clubhouse with resident lounge, outdoor pool, fitness center, dog run and children’s playroom, among others.

Dunne, a vice chairman with CBRE, said: “Our team continues to find creative solutions to get large multifamily transactions over the finish line despite the challenging economic conditions due to interest rate volatility. In the past five months, we’ve completed several notable multifamily transactions in the New York tri-state, including Sutton Landing Deer Park (200 units), Sutton Landing Mount Sinai (225 units), Avalon Mamaroneck (229 units), 15 Bank (501 units) and now Hudson Mews (288 units), for over $600 million.”

MacKenzie added: “We’re pleased to have represented Hudson Capital on this transaction. Hudson Mews should continue to perform well, given the asset’s robust leasing velocity and rent growth coupled with its proximity to NYC and public transit.”