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CBRE arranges $14.9 million sale of Fair Lawn apartment community
The Class A, 43-unit property in Fair Lawn was completed in 2021 and sits about a mile from NJ Transit’s Radburn Train Station.
CBRE arranged the sale of Lexington Riverview, a Class A multifamily property in Fair Lawn, New Jersey, for $14.9 million, according to ConnectCRE.
The buyer and seller were represented by different CBRE teams, with CBRE Institutional Properties leading the transaction alongside CBRE Investment Properties, while David Ferber of Matthews represented the buyer.
Lexington Riverview is a boutique luxury apartment community with 43 market-rate apartments, completed in 2021, and it is located along the Passaic River with waterfront views.
ConnectCRE added that the property is about one mile from NJ Transit’s Radburn Train Station, with access to New York in approximately 45 minutes, and CBRE cited strong interest generated by combining its institutional and private capital platforms amid interest rate volatility.