JLL Capital Markets closes sale of 226-unit apartment complex in Hackensack

Avalon Hackensack at Riverside, a multihousing community containing 226 apartment homes located in Hackensack, has sold, according to a Thursday announcement from JLL, who worked on behalf of the seller.

Terms of the sale were not disclosed.

Located at 414 Hackensack Ave. and built in 2013, the property has been institutionally owned and maintained, currently sitting at 96% leased. The community offers an attractive apartment mix of spacious studio, one-, two- and three- bedroom apartments with select apartments featuring balconies, patios, dens and loft-style layouts.

Residents also enjoy a variety of community features, including a swimming pool with grilling area, resident clubhouse, state-of-the-art fitness center, tenant lounge, covered garage parking, dog run and pedestrian entry to Hackensack River County Park.

Located off Route 4, Avalon Hackensack at Riverside offers residents convenient access to major thoroughfares such as the Garden State Parkway (3.3 miles), Interstate 80 (3.3 miles) and Interstate 95 (4.7 miles), providing unparalleled regional connectivity. The community is a five-minute drive to both the Anderson Street Train Station and the Essex Street Train Station (Pascack Valley Line), a nine-minute walk to the bus stop on Hackensack Avenue and less than a 10-minute drive to the George Washington Bridge, all granting entrance to Manhattan in under one hour.

Additionally, the property is strategically positioned near major regional employment centers such as Hackensack University Medical Center, while also adjacent to an array of local area amenities, including the renowned Shops at Riverside shopping mall, which includes retailers such as Bloomingdale’s, the Cheesecake Factory, Ann Taylor, William Sonoma, Starbucks and AMC Theaters.

JLL Capital Markets team was led by Senior Managing Directors Jose Cruz, Michael Oliver and Steve Simonelli, along with Director Elizabeth DeVesty and associate Austin Pierce.

“We are excited to announce the sale of Avalon Hackensack at Riverside, a premier Class A multihousing community in Hackensack,” Cruz said. “The property’s amenities, convenient access to major transportation routes and proximity to employment centers and the retail amenities made it a highly sought after investment.”